Credit without proof
A credit without proof most often refers to an unaffected consumer credit, more particularly to a personal loan or a revolving credit and means that it will not be necessary for the borrower to provide an invoice or a quote to justify its request for funding.
Credit without proof of income
The term "credit without proof" can mislead people wishing to apply for a loan. Indeed, generally, it does not mean that the borrower will not have to provide proof of salary which is a necessary document when setting up a credit application file with most banks or financial organizations. It is difficult to find an establishment that is ready to extend credit without any document justifying the borrower's income. It is certainly not impossible and some organizations offer this kind of loan, however, it is only valid for small amounts, not exceeding 3000 US dollars. In addition, the interest rates of this type of loan are very high given the risk of non-repayment.
If you are unemployed, on fixed-term contracts or if you have too low an income to be able to access conventional credit, you can always try to contact associations such as ADIE (Association for the Right to Economic Initiative), loan organizations between individuals such as Union Loan or the Family Allowance Fund (CAF).
ADIE allows people with low incomes (mainly the unemployed) to obtain small loans of an amount generally ranging from 300 to 5000 US dollars (micro loans). These loans are intended for the social and professional integration of the borrower.
The Union Loan organization is a business of loans between individuals and allows the borrower to have the amount of credit as he wishes.
Finally, CAF can grant zero interest loans, also called honor loans, for an amount not to exceed US $ 3,500. However, to be able to make the request, several conditions must be met. The borrower must be a beneficiary, have at least one dependent child and temporarily encounter financial difficulties.
It is also possible to apply for credit without proof of salary by having a guarantor who will be ready to repay the credit if the borrower ever encounters difficulties.
Personal loan without proof
The personal loan is the credit without proof most requested by borrowers. It is a credit that can be granted by a bank or an institution specializing in credit. Unlike assigned credit, it allows the borrower to dispose of the money that has been loaned as he sees fit, without having to provide proof of use. It can be used to purchase a consumer good or a service. Its possibilities of use are very wide, it does not need to be associated with a specific purchase.
The loan rate can vary from one organization to another but more often it is higher than that of an affected loan since the lender does not have a guarantee linked to a specific purchase.
The personal loan amount cannot be more than US $ 75,000 and the repayment term is usually not more than 7 years. However, these criteria as well as the method of reimbursement differ from one establishment to another. It is the same for the conditions of obtaining the loan, each lender has its own assessment of the situation of the borrower. It will be difficult for you to obtain a loan if the lender judges that your repayment capacities are insufficient and present a risk (employment in CDD, income too low…).
The borrower has a right of withdrawal for 14 calendar days from the signing of the contract. He can also repay the loan in advance if he has the means. However, this action can sometimes generate costs which must be specified by the lender in the credit agreement.
Revolving credit, also called revolving credit, permanent credit or replenishing credit is a type of loan that consists of making available to a borrower a sum of money that he can freely dispose of and that he can reconstitute in order to use it. according to their needs, without having to justify their expenses. It is a reserve of money that is renewed as the borrower repays his loan. He can thus reuse it in order to finance purchases that do not have to be predefined and he has the possibility of spending it in whole or in part. However, it cannot exceed the maximum authorized amount. The borrower does not have to pay interest on the available credit, but only on the amount he has actually spent.
In general, it is a type of loan that is associated with a credit card (bank card, purchasing card, etc.). It is also found in the form of a “line of credit” which corresponds to a revolving overdraft authorization linked to the borrower's bank account. The latter can then draw on this reserve by check or by transfer.
It can be offered by banks, establishments specializing in consumer credit, supermarket chains or mail order brands. As with all consumer loans, the lender must check the creditworthiness of the borrower and reserves the right to refuse the granting of credit if he considers his repayment capacity insufficient.
The duration of the contract is 1 year and can be renewed each year. Three months before the annual deadline, a renewal offer is given to the borrower by the institution with which he applied for credit. It is possible to oppose the proposed changes by sending a refusal slip, up to 20 days before their application.
The amount of credit is granted based on the borrower's income. Interest is added to amounts due at the end of each month.
It is a type of credit that attracts much criticism and is often accused of household over-indebtedness.
How can I obtain a credit without proof?
You can contact a bank or institution specializing in credit of your choice directly. You can also carry out your procedures online by doing simulations that will allow you to better visualize the credit to which you want to subscribe and to adapt your request according to your situation. You can use an online comparator which will help you choose between various organizations while having an overview of the different rates offered.
Then, all you have to do is fill out a form with your personal information needed to study the file. Most of the time, after completing this form, it is possible to obtain an immediate response in principle. You will then receive a contract that you will have to sign and return to the lender, along with the requested documents. Your request will be examined in depth by the financial institution, which will decide whether or not to grant you the credit. You will then receive a definitive answer. If this is positive, the money will be paid into your account quickly.
What are the conditions for accepting a credit without proof of use?
The quality of the file is essential in the acceptance of a credit application since it is the borrower's repayment capacity that will determine whether the lender decides to grant him the loan. Thus, the borrower must have a stable job in view of his seniority or his function, he must receive regular remuneration (if he is not an employee, he must prove to the lender that he has other regular resources. ), he must not have accumulated debts (if he has other credit contracts in progress, his repayment capacity will be reduced), he must have a financial behavior that does not involve large bank overdrafts or major expenses and it should not be filed with the Bank of United States.
If a request is refused by one or more organizations, the borrower has the possibility to ask for the reasons which justify the rejection of his request. If a response does not reach him within two months, he can contact the CNIL (National Commission for Informatics and Liberties) which deals in particular with credit refusal situations, in order to ask him to 'intervene.
What documents do I need to provide for a loan request without proof of purchase?
In order to set up a credit application file, it is essential to gather the following documents:
-A photocopy of a valid identity document (national identity card, passport, residence or resident card, etc.)
-A proof of address (electricity bill, property tax, rent receipt ...)
- Proof of income (last tax notice, last pay slips, certificate of family benefits ...)
-A bank or postal identity statement (RIB or RIP)
However, this list is not exhaustive and it is possible that the lending organization to which you decide to contact you will ask for additional documents, if it deems them necessary for the study of your file.