Among the consumer loans to which you can subscribe is the credit without proof. This is a loan that still presents gray areas for many people. This is the reason why we will explain in detail what this loan consists of. Also discover the conditions to be fulfilled to obtain it as well as the advantages that it presents through a complete analysis.
What is credit without proof?
Usually, when you apply for consumer credit, you should expect to provide an explanation of what the released money would be used for. With credit without proof, this is not the case. In clearer terms, we will define this credit as being that which does not need an allocation which is defined from the start or a supporting document to be requested.
In the family of consumer loans, it is a loan that will be classified in the category of unrestricted loans. Although this credit is special, its repayment method is not very different from that of other consumer loans. You must make payments according to a frequency previously agreed in the contract that you must sign.
In the context of an application for credit without proof, the sum to which you may be entitled cannot exceed 75,000 euros. It is a loan that sometimes can be repaid over a period of up to 10 years. Also note that there are two types of credit without proof: personal loan and revolving credit.
What are the conditions for obtaining a credit without proof?
Obtaining a credit without proof is subject to specific conditions as with all other consumer credits. These prerequisites concern both the supporting documents of the applicant and the financial situation of this money.
A file presenting your qualities
So that your loan application without proof is not rejected, it is important that the lender has a good image of you. You must therefore provide a file that will convince the organization of your ability to repay the loan. The file to be provided may differ from one organization to another.
As a general rule, the file will consist of documents proving your identity. It can be your national identity card, the residence card, the resident card or even the passport. The part must obviously be valid. You must also accompany your request with proof of address which may be an electricity, water or gas bill.
The bank or postal identity statement and proof of income are also documents that may be requested. In addition, you can only benefit from this loan if you are of legal age and reside in France. You should also have all your mental faculties and have an income-generating and stable activity.
Obtaining a stable monthly salary
Your seniority as well as your functions in the company can be qualities which will allow you to obtain the credit without proof. However, it is not only employees who can obtain this credit. If you are not, you will need to present the lender with proof of receipt of sufficient and regular money.
In order for the loan to be granted to you, the lender must ensure that you are financially able to repay it. Your financial actions will be scrutinized. You will be much more likely to get the loan without proof if you are a person who knows how to save. If, however, you have an overdraft or are very accustomed to large expenses, you may have a hard time getting it.
A low debt ratio
The debt ratio is also a condition of great importance in the process of obtaining credit without proof. It must be relatively low for the credit to be granted to you. Ideally, this rate should not exceed 33%. Be aware, however, that having a good situation can increase the debt ratio which can reach 50% or more in certain situations.
This would require you to be a good saver and your income to be sufficient and stable. To put the odds on your side, also avoid having your name registered on the Personal loan repayment incidents file. Also do whatever it takes not to be a banking ban.
The presentation of a flawless account statement
The other essential condition to be met for obtaining credit without proof is the presentation of an account statement which is free of default. In other words, he must not present either bank overdrafts or large expenses.
If currently your bank statements do not have these characteristics, it is best to wait before applying for credit. Ideally, you should present 3 perfect account statements from all angles. You will have more chances to obtain your credit without proof.
What are the advantages of subscribing to a loan without proof?
The first advantage that could be noted in the context of subscribing to a credit without proof is precisely the justification which is not necessary. You have the possibility to spend your money without having to explain yourself to any organization.
No record of your expenses will be kept when you take out this loan. Since the reason why the loan must be made is not known by the lender in advance, a minimum contribution from it will not be required. In this way, your privacy is protected and respected.
Credit without proof is also known for the great flexibility it offers. The date of the withdrawal, the amount that will be withdrawn or the frequency of repayment are all parameters over which you have decision-making power. You can also negotiate certain terms of the credit agreement without proof.
The addition of loan insurance or the rate can indeed be negotiated. However, be aware that you can only do this when you take out the personal loan. Finally, the credit without proof is the one that you can obtain without having to provide collateral. For example, you won’t have to mortgage your house to get it.
In conclusion, it is indeed possible to obtain a credit for work without proof. However, this obtaining is subject to the aforementioned conditions. Do not hesitate to use the recommendations in this article to carry out the projects that are important to you.