Obtaining a loan without proof of employment is very difficult, but it does not have to be completely excluded. Banks usually need proof of income and permanent employment. Many prospective creditors wonder what the loan without proof of work is about.
This means that a loan can be requested from a lender without having to prove regular employment. Often the lender’s regular income from work is the primary security when a loan is to be granted. Permanent employment is also an important prerequisite if it concerns the loan without Credit Bureau. Loan without proof of work is therefore relatively rare.
Where can I get a loan without proof of work?
Nowadays, loans are no longer only requested from the banks, because even with a mail order business there is the option of payment in installments. Of course, no cash is given at this point, but the loan amount is for a product that is needed privately. Proof of work must hardly ever be presented to a mail order company. A mail order company has the goods as security here, because as long as they have not been paid in full, they belong to the seller.
There is no cash credit without proof of work
If a prospective customer wants cash and is unable to provide proof of work, other collateral must be provided. For example, a guarantor can be included in the contract, but it must then be solvent and be able to prove the income. The loan without proof of work is also possible if additional collateral such as income from a rent or life insurance can be proven with value. In general, proof of work plays an important role, but it is not always the only criterion.
General information about the loan without proof of employment
When applying for a loan, a regular income is the most important prerequisite and for this reason the loan without proof of work is a real challenge. Every bank wants to make sure that they get their money back and documents are checked for this. The regulated income from a permanent employment relationship plays the most important role. Proof of work can prove exactly this and without it it could be that the prospect is without work.
However, if you are unemployed, you should not get a loan because the monthly rate cannot be paid. If no regular income can be proven, then there is no loan from a reputable German bank. For this reason, the banks question exactly why no proof of work can be presented. A loan without proof of employment can then only be signed by two borrowers or another person can be accepted.
Another person is then liable for the installment payment and must also serve it in the event of an emergency. If a loan is requested abroad, the checks on the sub-documents are not quite as detailed. Overall, it should be noted that there is no overindebtedness.