Financial difficulties can affect all of us. Whether you are an employee or an entrepreneur. In this case, what do people who are unemployed or have been dismissed and their family or friends do not help? Is there any loan without proof of income?
Non-bank providers report that people whose income is not stable are increasing. These may be citizens who work “illegally” because of distraint, students or visitors to the Labor Office who receive unemployment benefits. Another group is those who try to make use of social benefits.
Loan without proof of income, reality or fiction?
Before 2017, we were actually accustomed to the fact that many small online lenders did not require any income confirmation. These were amounts up to USD 10,000. But how is it in 2019? We are likely to disappoint many, but every banking and non-banking company has to verify that you will be able to repay any loan and this is not possible without your income. One of the basic requirements of how to check the creditworthiness of each client is that you present a current account statement, payroll, tax return or pension assessment. Therefore, mothers on maternity leave and people who are unemployed have lower conditions for a positive assessment of the application.
How do I increase my chances?
- Apply for a loan only if you have a sustainable source of income
- The big advantage is if you are not in the trial period
- The notice period can be a complication
- Clients who have an indefinite contract are likely to succeed
Loans without proof of income, where possible
The exception is for loans that are secured by real estate or if you find a person who will guarantee your property for you. Another who is unlikely to require proof of income is the “investor”, who is often called a usurer because he charges abnormal fees. These people parasitize the misfortune of others, so be very careful. The last person who can satisfy you in this tricky situation is someone really close or family member.