How to get a personal loan when you are unemployed?
When you are unemployed, it is always more difficult to get a loan. Indeed, financial organizations are often more cautious and fear that the borrower will not be able to repay his loan properly over the duration of it. But unfortunately, faced with the unforeseen events of life or in order to finance beautiful life projects, immediate credit without proof may be necessary. If you are looking for how to get a personal loan when you are out of work, you have come to the right place. We give you all the cards in hand to convince the banks.
Personal loan: quesako?
Already, you should know that the personal loan is a type of consumer credit. The personal loan is a credit agreement that binds a financial institution and an individual over a certain period (the duration of the credit agreement). The personal loan is taken out for a period ranging from a few months to a few years, however it cannot exceed five years.
The lending institution will then make available to the borrower a sum of money agreed upon at the time of signing that the borrower will reimburse in the form of monthly payments.
What does the personal loan finance?
The personal loan finances just about anything the borrower wants. Indeed, it is an unallocated credit, that is to say that the borrower can use the money made available to him as he sees fit without justifying his purchases. It is therefore possible to plan a vacation with the money made available, or to consider the purchase of a new vehicle, a brand new kitchen, new furniture, the arrival of a baby or even to compensate. an unexpected lack of cash. It is also possible to mix the projects and to use the money of the personal loan as well to finance a wedding as the renovation of a room of your place of life.
Be careful, however, you should know that the personal loan can under no circumstances be used to finance a real estate purchase. If your project concerns real estate, know that there are many loans designed for this type of project.
In recent years, the law has been protecting consumers and obliging financial establishments to affix certain specificities to the contract between the bank and the individual who subscribes to the loan. It will be mandatory that certain information appear, among which: the type of credit, the total amount of the credit and the conditions for making the funds available, the duration of the credit contract, the amount, number and frequency of the installments that the The borrower must pay, the borrowing rate, the conditions applicable to this rate, the annual percentage rate of charge and the total amount owed by the borrower calculated at the time of the conclusion of the credit agreement, all costs related to the execution of the credit agreement, the collateral and insurance required, the notary fees if there are any and finally, in the event of a loan used to finance the acquisition of a specific good or service, this good or this service and its cash price .
Cooling-off period: how does it work?
You have just signed a personal loan with a financial institution and you are in doubt. Do not panic, if ever you no longer wish to use a personal loan in the days following the signing of the contract, you can use the withdrawal period.
The credit agreement becomes valid once the withdrawal period has passed. In conclusion, after signing the credit agreement, you have the option for 14 calendar days to waive your credit by exercising a right of withdrawal. The period starts from the day of acceptance of the credit contract offer.
How to proceed?
Nothing's easier. When the financial institution sends you your contract, it includes a detachable withdrawal slip. If you wish to cancel your contract, simply fill it out and send it back to the bank by registered letter with acknowledgment of receipt.
How to get a jobless loan?
Know that it is quite possible to get a loan when you are unemployed. However, banks and credit organizations will certainly ask you for more guarantees. If the personal loan is generally not an option when one is unemployed, other credit solutions are also possible, in particular microcredit and loans granted by CAF. Institutions will check your creditworthiness before lending you money. You will therefore need to provide the last tax notice, your latest pay slips and your latest account statements. If your situation shows that your income is too low, banks, like credit organizations, often tend to refuse credit for lack of proof of your long-term solvency. To convince the banks more easily, you can present a guarantee in the form of a surety: someone around you agrees to stand surety, which allows the bank to turn to this person in the event of a problem. However, it is preferable to make sure of its good solvency before committing to a loan.