Getting a personal loan to, for example, renovate your home, payroll or tax notice is rarely possible. However, there are solutions to get a loan work without justification.

Definition of credit without proof

The loan without justification, unlike the loan assigned, does not require the justification of the purpose of the loan. The advantage of this type of loan is not to impose any obligation of use or purchase, or even to justify a need for cash.

Thus, the beneficiary of the loan is free to do what it sees fit funds: to carry out development work, equip his house, go on vacation, practice his leisure or face an unforeseen. This type of loan is usually capable of covering 100% of the targeted investment on its own.

However, to qualify for a loan without justifying its expenses, the applicant must have the appropriate profile highlighting his ability to repay. For this purpose, different criteria are taken into consideration by the lending institutions: stable employment, regular income, good financial behavior and not to be listed Bank of France (banking prohibition).

Adjustable parameters

To choose the best credit among the multitude of offers available on the Web or directly with the credit agencies, you will have to find the best conditions and compare the proposed interest rates. These can also vary considerably from one organism to another.

In addition, before you commit you will need to estimate your ability to repay. After having chosen the most interesting loan offer, you can decide the date of the withdrawals, the management of the monthly payments as well as the method of repayment (total or partial) of your credit.

Can we really borrow without a pay slip or tax notice?

Unemployed people on benefits, acting or even homemakers without regular cash flow can now benefit from personal credits. Indeed, there are today on the market, loans without payroll issued by some organizations specializing in this type of financing.

These lending institutions do not necessarily solicit the pay stubs of loan applicants. On the other hand, their loans, often based on revolving credits, have fairly high interest rates of up to 20%. These high rates allow financial institutions to protect themselves against possible lack of payment.

Duration of a revolving credit

From one organization to another, the ceiling of a personal credit and its duration are variable, whereas, for revolving credit, the repayment period is fixed at one year with a contract renewable tacitly.

If you do not have a pay slip or a stable income, avoid especially multiplying the credits to not fall into the over-indebtedness or worse, the banking prohibition.

Disadvantages of credits without justification

Disadvantages of credits without justification

Specialized financial institutions offer loans to individuals without a pay slip or proof and do not systematically require debtors to indicate the purpose of the credit. The advantage of this type of service is that the borrower is free to use the loaned money without having to justify it.

On the other hand, the first disadvantage is that, in the event that the investment concerned proves to be uncertain, the borrower will still have to pay the monthly payments. In addition, the main disadvantage of the loan without justification is in its interest rate, which is much higher than most conventional loans.

At a traditional banking institution, receipts are the golden rule. The applicant can thus demonstrate his ability to repay. In the case of unsupported loans, also called “unallocated”, their high cost guarantees the lending organization to be profitable over time and on quantity.