Whatever your life plan (a wedding, a trip, a new car, work, etc.), it has become common to finance it via a consumer loan. In addition to its advantageous rates, consumer credit has the advantage of being able to be taken out quickly and simply. So, what documents to provide to obtain a consumer loan? Is it possible to take out a loan without proof of salary? Or when you are unemployed? We tell you everything!
What is a credit without proof?
Consumer credit without proof, also called “immediate credit”, is unallocated consumer credit. That is to say, it is granted to the borrower without the latter having to justify himself as to the use he will make of the funds loaned.
If it is quite possible to obtain instant credit without proof , the borrower will still have to provide some guarantees to the lender that he requests. Profile, income, solvency… These elements nevertheless enter into account when being granted an unallocated loan. The lender must indeed ensure your borrowing and repayment capacity.
If the ceiling for consumer loans is usually € 75,000, it is € 21,300 for a loan without proof. The maximum repayment period will be 5 to 7 years depending on the institution.
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What types of credits can be taken out without proof?
Depending on the type of consumer credit contracted, it will sometimes be possible – and sometimes not at all – to take it out without supporting documents:
The affected loans (marriage credit motorcycle loan, car loan, student loan …) for this loan granted to finance a predefined expense, proof will be required. For example, it could be a purchase order for a new car or a work estimate.
The personal loan or not affected: it will be here for cash loans. For this type of credit, no supporting documents have to be sent when subscribing. The borrower can decide alone on the use of the funds without providing a reason.
The revolving loans : cash reserve that is reconstituted as the borrower pays his monthly payments. For this type of loan, no proof of salary or use to be provided to the lender if it is a small amount. If the amount is higher, you will not have to justify the use of the funds, on the other hand, you will surely have to prove your solvency to the lending institution.
As you will have understood, if it is possible to take out a loan without proof , it will sometimes be possible that you will be asked to justify your financial situation. These are also legally mandatory verifications (Lagarde Law 2011) for lending institutions.
Credit without proof: advantages and disadvantages
its speed: if you apply for credit online without proof, you will be able to obtain an agreement in principle within 48 to 72 hours;
its discretion: the credit without proof being unaffected, you do not have to provide a reason for the use of the allocated funds and can devote them to the projects you wish;
Simplified formalities: having no proof of use to provide, credit without proof implies a less complex file.
Please note, credit without proof has a real drawback, however, it lacks security. This unallocated credit cannot in fact be canceled, unlike the affected credit which is automatically canceled if the expenditure it finances is also canceled.
How to get the best credit without proof?
Once your project is clearly defined, you can start canvassing lending institutions (your bank for example) in person, by phone or online (an online comparator of credit institutions will make it easier for you). Obtain several quotes in order to identify the best offer and, once it has been found, contact the establishment in question to set up a case.