Although we only have a low income, we also have the right to carry out our projects. Even if the banks favor households with a fairly comfortable income, it is quite possible to obtain a consumption credit for families with small financial resources. It may happen that you have not always been in this financial situation, but that unforeseen events have forced you to face some material difficulties. For example, banks tailor their offerings based on personal loan, credit redemption or revolving loan requirements. An explanation over at http://refoksa.com
Credit for small income: the minimum conditions to respect
In order to obtain a credit for a small salary , the minimum required is to have a salary, no matter how high it is, or at least from a stable financial source. People who do not have an income can not benefit from a credit, except for certain exceptional cases subject to special conditions. Who are affected by this low-income credit option? Well, it can be people looking for work, employees on a fixed-term contract or temporary workers.
In addition to income-related criteria, banks can also look at other key details, such as the debt ratio, which must be particularly low. If the borrower has already taken out loans before, he should not have had any repayment incidents, if he still wishes to take out a new loan later. In addition, you must be of age and must be a resident of France.
Small payday loan: different types available to borrowers
Among the personal loan offers available, which low-income families can also benefit from, is the loan without proof. The borrower does not need to provide quotes or invoices. He can use the amount as he sees fit, whether it is for the acquisition of a car, interior equipment or to make holiday projects or job search.
In terms of credit for small income, we can also talk about revolving credit , micro credit and loans between individuals, usually interest-free. You can, for example, consider this mini-credit if you are already registered at the Bank of France. As for the revolving credit, it offers low-income households a reserve of money that they can benefit from as and when repayment.
Families with a moderate salary can also apply for an assigned loan, whose procedures are relatively flexible because it is intended for a specific project. The lender will therefore ask for supporting documents. It may be a work loan, a car / motorcycle loan, etc.
Mounting a file for a small income credit application
You have to have a concrete file as it is said to benefit from a loan at all, so when it comes to a credit for low income, it is essential to redouble efforts to put all the chances of his side.
Personal documents may be requested when applying for a small income loan. We can essentially talk about pay slips or other proof of income, the proof of address (or EDF invoice, tax notice …) and the photocopy of the identity card.
Apart from the documents to provide, your file must also not include banking incidents, such as delays in repayment, essentially in the three months preceding the next loan application.
Steps to properly select a small income loan
What are the steps to take to have a small credit that fits perfectly in the context of your debt ratio? Just like for ordinary credit, a request for low-wage credit follows roughly the same procedures. Remember that these same procedures may vary depending on the lending institution in question.
All requests begin with the analysis of their needs. The borrower must determine what he needs to be able to choose the loan agency that suits him. But this step is not easy given the panoply of online credit companies. To do this, you can go through a credit comparator for small income.
Once the lending institution obtains your loan application file, it will analyze all the criteria in the smallest details: repayment capacity, payment incidents, solvency, etc. When the loan is granted, you will have the funds within the agreed time.