You have a project in mind and want to subscribe to a consumer credit but you do not have proof of income? Some techniques and tips can help you still benefit from a Personal payday loan if your project is not yet defined or if you want to use the money as you wish, without having to justify.
Personal payday loan, consumer credit: what are the differences between the two?
The Personal payday loan is a type of consumer credit. Consumer credit is a credit granted to an individual by a financial institution to finance projects of all kinds. The amount of money borrowed will be repaid in installments over time and must not exceed 75,000 euros.
There are two different types of consumer credit: allocated credits that will finance a well-defined asset in advance (a car, the purchase of a kitchen, etc.), as well as unrestricted credits whose amount is used freely by the borrower: to finance a car, the repair of a car, a trip, the purchase of furniture, studies etc. Personal payday loans fall into the category of unrestricted credits.
The rental with purchase option (LOA), mainly used for the purchase of cars, boats or computers and designated as “lease” or “leasing” is similar in turn to a consumer credit but is not not strictly speaking a credit since it is a lease the amount of which is paid to the owner (the lending financial institution) until the end of the contract and the cost of the transaction is not expressed in interest rates.
Get a Personal payday loan without proof of salary: it is possible
Often when we talk about the term consumer credit without proof, it is a question of a credit without justification of the use of the funds. The Personal payday loan is the only consumer credit that does not require to justify the use of money, but it has the disadvantage of being often more expensive than auto credit or loan work.
To obtain a Personal payday loan, the lender will require from the borrower the following documents: proof of identity, proof of income, proof of address and finally bank proof.
As a general rule when applying for a loan, the borrower is asked for proof of income, often by providing proof of salary. It is necessary for the financial institution to verify that the borrower will be able to repay the credit he has contracted.
However, when borrowing 3,000 euros or less, it is possible not to provide proof of income. Beware, however, few organizations do not require them anyway. It’s up to you to find out as much as you can, to go around the banks and find the ones that do not ask for proof of income.
Personal payday loan without proof of salary: the exception of shops
With what we saw in the previous paragraph, it appears that for a loan application of less than 3,000 euros, It is not legally impossible to obtain a credit without proof of income .
In practice, banks tend not to offer this solution. In contrast, many stores offer Personal payday loans without proof of salary. Indeed, when one makes purchases of the type do-it-yourself, equipment of the house or else electronics in large signs, it is quite rare to be in possession of a proof of income. It is therefore possible to obtain a loan without proof of income in this case but it is generally limited to an amount of 3,000 euros maximum.
Proof of salary, proof of income, what difference?
Be careful not to confuse proof of salary and proof of income. Many people do not receive a salary, or not directly. The receipts of income accepted by credit organizations are numerous and are as follows: pay slip (usually the last and often the last two), tax notice (very often requested in addition to proof of income), balance sheet (for professionals, usually the last two), bundles Cerfa (liberal profession …) or statement of aid (housing assistance, retirement, RSA, AAH …) to name only the best known.
In any case and regardless of the Personal payday loan without proof of salary you choose, it is essential to check the conditions of the latter and especially to verify that you are able to repay your monthly payments in a sustainable manner. Finally, do not hesitate to use the online comparators to find the establishments offering the most interesting conditions in terms of Personal payday loans without proof of salary.