To secure a payday loan you usually need a proof of income, ideally a salary statement. Those who can not present such, but do not despair.
There are also opportunities for people without a fixed income on a much-needed payday loan. Here, the payday loan without income or the payday loan without salary would be a possibility.
Come to the payday loan with collateral
A serious financing can be recognized by the fact that collateral is required . This can be a solvent guarantor or a car or condominium or other property. In any case, the borrower must be of legal age, be a German citizen or foreigner with valid identity documents, have a German bank account and at least have a small, possibly even irregular income.
The payday loan offer will be calculated so that the borrower can pay his installments without being driven deeper into the debt trap.
Plan for higher costs
Therefore, mostly only small payday loans are granted, for example, from 500 euros. Compared to fixed-income financing, the processing fees and the interest rate are usually higher. There are fairly large interest margins depending on the payday loan rating . These in turn affect the amount of the monthly installment and the term. It may also require the completion of expensive insurance, especially if the payday loan is offered without insight into . Here you should look at the fine print very carefully, because there are also dubious providers.
It is best if the payday loan is requested together with a co-applicant who has a good payday loan rating. Since the lender in this case has particularly great opportunities to get his money back, he will offer better terms .
Small payday loan without income with guarantors
Also, a guarantor gives the lender security, so that he can grant payday loan without proof of income and grant good conditions. However, the legal situation is different: while a co-applicant can be prosecuted at any time during the term for the installments, this is only possible with a guarantor if the borrower does not fulfill his payment obligations permanently .
The guarantee is entered in the guerrilla’s file , so that he may get in trouble if he wants to apply for a payday loan himself. In addition, a guarantee can burden the personal relationship between the two persons.
It is worth considering whether to ask someone who would be co-applicants or guarantors to apply directly for a private payday loan . Repayment may then be more flexible and cheaper. In any case, you should be sure that you can return the money so as not to jeopardize the personal relationship.
Personal payday loans as a possible alternative
Alternatively, you can look around for a personal payday loan on a payday loan marketplace. In addition to the general payday loan rating, the payday loan check also takes into account the project behind the payday loan request. With successful payday loan brokerage a commission and relatively high interest rates are to be paid.
If you only need money for a short period, a mortgage payday loan is an option. Since the pawnbroker can use the pledge , he is not interested in the income situation of the pledgee. The payday loan is issued promptly and easily and without any query or entry to the , but the interest is by law 1 percent per month. There are also high processing fees, so this is a pretty expensive option.
A special form of a small payday loan with no initial costs is the conclusion of a mobile phone contract or several mobile phone contracts with a fixed term of 24 months. Instead of a mobile phone you get between 250 € and 2500 € as equipment subsidy transferred to his account. You do not need a proof of income but only a German residence.
Conclusion: Depending on your personal situation or project, a small payday loan without proof of income is possible.
4 tips for small payday loan without income
1. List collateral
If you have no income, but should have appropriate collateral . For example, those who have just become unemployed may still have various items that have a certain material value. These can usually be shown as collateral for a payday loan.
This can also be a car. The important thing is that it is a seizable property, because without its own income, there is nothing that the bank could fall back to secure the payments. Anyone who has created a home during their working hours or has a condominium can also lend it to them.
2. Find guarantors
A very good way to get a payday loan without income is when another person is ready to act as a guarantor. This can also be your own partner or wife, provided that she has a regular income and has no negative entries in the . As a guarantor, however, any other person can occur.
For strangers or friends, it is advisable to set up a guarantee contract to clarify all eventualities in advance. As a last resort, a guarantee insurance can be concluded, in which then monthly contributions are paid.
Be sure to pay attention to the double burden of monthly payday loan installments and payments to the insurance company.
3. Create extra income
Just because there is no income does not necessarily mean that you are not payday loanworthy . Often only a few hundred euros are missing before the payment of a small payday loan at least is granted. For this purpose, a secondary income can be created, which can also be operated from home. The Internet offers a lot of work that can be done directly and quickly from the PC.
For example, anyone who enjoys writing can turn their talent into a career. Certainly, there will be no income from which one can live, but this amount of money could open the door to a small payday loan.
4. mortgage life insurance
Anyone who has taken out a life insurance policy in their professional life has a good chance of getting a payday loan through them . Often it is not worth canceling the insurance and paying off the amount. However, this can also be pledged to the bank . It practically springs in when one is no longer able to pay off the accruing installments.
If the amount is high enough, sizeable sums can be borrowed. Beware of use: Also with the bank applies that often the total amount is not paid.
This is how you get a payday loan without proof of income
Basically, lending is quite simple. Most lenders follow the same procedure. Often you can find many providers on the Internet, which provide a payday loan without proof of income. Here, the purpose and the duration are in the first place queried. The more plausible the intended use and the more realistic the duration, the higher the chances of a payday loan being awarded.
It is important to pay attention to the effective interest rate when selecting the payday loan. This can lead to significant differences between the individual providers. Experience has shown that the interest rate is slightly higher than is the case for a payday loan with a query.
This is mainly because this interest rate should serve as collateral for the lender. Nevertheless, the effective interest rate should not be excessive. A healthy mediocrity points to a reputable provider.
The payday loan can now be applied for on the Internet. You enter all the important data and send the application forms. Within only a few working days will be decided on the lending . In most cases, the processing of applications is much faster than with conventional payday loans, as there is no payday loan check . If the payday loan is approved, you will get the money directly transferred to the account.
In addition, to increase the chances of lending, you can also specify certain collateral. So you can, for example, note a guarantor or deposit property as collateral. However, one should very carefully consider what this form of security is worth.
For whom is such a payday loan suitable?
As mentioned earlier, basically anyone can benefit from such a payday loan. Especially people with a low income , such as students or trainees, can benefit from it. Also, a payday loan without income proof is suitable for those who have already failed in the lending by a bank, because a proof of income has not been sufficient as sufficient security. Furthermore, self-employed people can benefit from a payday loan without proof of income.
In particular, if you want to start a business, it will be hard to come up with a proof of income at the beginning. This is mainly due to the fact that you have not yet generated any income in the current industry. In order to fulfill the dream of self-employment , a payday loan without proof of income is the right solution.
Is a payday loan without proof of income reputable?
Basically, one can say that this type of payday loan is also serious. Ultimately, each payday loan company decides which applications to accept and which not. Generally, you should only trust in reputable companies . Furthermore, the contract should be transparent and a contract may not come about without the consent of both parties. This is an important criterion to watch out for.
In particular, if you want to conclude the payday loan without proof of income on the Internet, you should read the reviews of the bank. Thus, one can recognize important clues about the seriousness of the provider .
As a rule, companies are required to provide collateral when granting a payday loan without proof of income. These should by no means be too high. If, for example, a plot of land is required as compulsory security, this could be a clue to a dubious company.
Considering these important aspects, one can certainly find a cheap and serious payday loan without proof of income and get in this way to the money needed .
Typical situations for the payday loan without salary
Most widespread is the payday loan without salary in the direct financing of purchases via the trade. In this case, by far the most transactions require only the presentation of the identity card and a bank or payday loan card, except for large amounts. Finally, the discretionary payday loan is a payday loan without salary in the strict sense.
Although the bank has information regarding the receipt of funds when it is granted. It does not know, however, whether the employer transfers contributions exclusively as compensation for wages or possibly together with salary payments.
When applying for a payday loan card, the issuance of which is subject to the granting of a short-term payday loan, however, most issuers only ask for income. However, they refrain from submitting a corresponding receipt and only request the salary statement if the cardholder asks for a card limit that is higher than the default limit.
Furthermore, the mortgage payday loan is one of the payday loans, which are always awarded without salary , since the pawnbroker’s pledge serves as collateral.