The unemployed are a social group that has financial problems more often than others. That is why the unemployed seek help from financial institutions. Banks usually do not grant loans to people without a permanent job.
Loan companies to the rescue
Financial institutions often offer loans online without earnings certificates. Unfortunately, this is often only apparent help. At the beginning, as promised, all you need is your ID card, but when verifying your application, you’ll need to provide information that confirms your income. So what does it really look like? Can an unemployed person take a loan?
Loan companies deviate from banking procedures
The customer will no longer be asked for an official earnings certificate. Often, it is enough to provide the source of income in the form. Banks usually expect the presentation of an employment contract, a document confirming the award of a pension. Loan companies are more interested in whether the customer will be able to repay the loan. In practice, the unemployed often receive help. Financial institutions also consider the customer’s credit history.
While fewer and fewer companies check their clients’ income, more and more are using databases and information offices to find out as much as possible about the applicant’s credit history. This is to check whether the person has regularly repaid financial obligations so far. A bank statement scan is often required to check your creditworthiness. If, despite the lack of permanent employment, the applicant has repaid his previous obligations on time, loan companies often help such a person.
The unemployed have a chance to get a loan
On the non-bank loan market, many companies (however, it should be emphasized that not all) are more interested in a client’s good credit history than in their income. Thanks to such practices, the unemployed have a chance to get money. However, it is worth mentioning that these will not be high amounts. Loan companies, if an unemployed person applies for a high loan, they prefer to reject the application rather than run the risk of defaulting.