ALL YOU NEED TO KNOW:
What are loans without endorsement or payroll or property?
As the name suggests, loans without endorsement or payroll or property are a type of credit that does not require the presentation of a guarantor or a payroll for approval, that is, allow people who receive an alternative benefit to The payroll get loans without the need to present any good as collateral for payment.
But there is still one more characteristic to mention: these products do not require to provide a property as collateral. In other words, they are not loans that have a mortgage guarantee. In these cases, therefore, the guarantee is personal, which means that the owner of the credit responds with all of his present and future assets.
Currently, there are many companies that grant this type of financing products and most of them operate through the Internet and process requests very quickly . However, it is important to note that, although they do not require the presentation of a payroll, these companies do ask that the client demonstrate that they have sufficient income to satisfy the debt, such as a pension or unemployment benefit.
To whom are credits without payroll or property offered?
Not having a payroll is no longer a problem to obtain financing without having to present a guarantee or a guarantee. To access this type of loans, our alternative income must meet certain characteristics. Among the most common types of alternative income are the following:
Autonomous : people who work on their own and receive income as self-employed that are sufficient, regular and justifiable, can access these loans. They are the group of people who do not receive a payroll as income that will be easier to obtain quick loans without payroll or endorsement, since they usually have incomes that meet the characteristics required by the entities.
Pensioners : if we receive a monthly pension and an amount that exceeds the limit established by the lender, we will get the financing we are looking for, since the pensions are considered eligible income to obtain loans without payroll.
- Persons with unemployment benefit : if we receive a benefit that allows us to meet the payment of fees and the rest of our monthly obligations and we will know that we will receive it for a minimum period of time, the entities will validate our income. Although in this specific case, we can only access small loans because our level of indebtedness is limited.
Although the name of these products makes us think that they can only be hired by clients who do not receive a salary and do not have a guarantor or a property, the credits without endorsement or properties are not exclusive for applicants who have this profile.
Requirements to get loans without payroll or endorsement
The entity will ask us to comply with a minimum of requirements that allow the entity to verify that we have a suitable profile so that they can leave us the money and we can refund it without problems. Normally entities will request that we comply with the following requirements:
Count on income that is sufficient, justifiable and regular . This means that, although it does not have to be a payroll, we must have a salary that allows us to face the repayment of the credits without problems such as the income of a self-employed person or a pensioner.
Being of legal age or over 25 years of age, depending on the entity, the minimum age required to obtain the loan will vary.
Reside in Spain and have a valid DNI or NIE to be able to certify it.
Not be registered in files of defaulters as ASNEF. If we are, the only way to obtain financing will be through the quick mini-credits with ASNEF and fulfilling two additional conditions on the debt for which we were enrolled.
To know if we comply with the requirements, the entity will analyze the data that we detail in the application form as well as the documentation sent and different databases such as ASNEF.
Documents necessary to contract loans without endorsement
Each lender may need a greater or lesser amount of documentation depending on the information used to analyze the profile of applicants. With these documents you can verify our solvency and verify that all the information entered in the application form is authentic. Let’s see what papers we will have to deliver in the vast majority of cases:
Identity document A DNI, a passport or an NIE that will serve to verify that we live in Spain, we are of legal age and that we are the same ones who have filled in the application form to avoid the use of our data without our permission.
Proof of income . A document such as payroll, VAT declaration and income tax, pension or unemployment benefit that allows the entity to know that we receive regular and sufficient income.
Bank statement . It will serve to verify that the holder of the account is the same person who requests them, the account where to deposit the money and our financial movements to know our capacity of indebtedness.
With these papers the entity will verify that the data of the online form is true and will approve our request without problems. To send them we can do so either in the application form or through an email or online identification applications that include the lenders.
Calculate the cost of loans without endorsement or payroll
One of the most important characteristics that we must take into account when looking for financing is the cost of it. In fact, when looking for different types of credits, the cost is usually one of the main reasons why we opt for one or another offer.
But looking at the TIN and the APR of the product is not always enough , since there are other factors that also influence its final cost. For this reason, from HelpMyCash.com we have created a useful free loan calculator so that we can discover how much we would pay for a particular loan. To use it we only have to indicate the amount of the product, its term and all the expenses indicated in its offer:
Credits without endorsement or properties for clients in ASNEF?
People who have one or more unpaid debts recorded in files of defaulters can also access this type of loans, since there are a few companies that offer loans with ASNEF without payroll or endorsement that can be contracted without having to provide a property as collateral. But to obtain these products it is necessary, in certain occasions, to fulfill several additional requirements:
That the debt does not exceed 200 euros , although each entity may limit the maximum debt that they will accept in accordance with their risk policies. Thus, we find entities that accept up to 1,000 euros and others that only accept amounts less than 100 euros.
That the non-payment has not occurred with another financial institution , that is, can not come from defaults on loans, credit cards or overdrafts. On the other hand, they will accept defaults to supply companies such as electricity or the Internet.
As we see, we have more options to obtain loans with ASNEF without endorsement if we are registered in this file because of a debt with a telephone company or with any other service or supply company. On the other hand, if the inscribed debt does not meet the aforementioned characteristics, few entities will grant us financing, so the best option may be to settle it in order to leave ASNEF.