For borrowers, it is not easy to get a payday loan without a fixed income. Freelancers and the self-employed are therefore often at a disadvantage in lending, because they can not prove a fixed income. Even if the loan is to be used for private purposes, the chances are not as good as for employees. In addition to a positive credit bureau income is a security that banks do not give up on loans. The safer and higher the income of an applicant, the smaller the risk of credit default for a bank and the faster it can be taken out.
Seize opportunities for a payday loan without a fixed income
Especially those who can not prove a fixed income should not give up looking for a bank too quickly to get a payday loan without a fixed income. Instead of payroll, a self-employed person or freelancer has to present other documents that can prove that the creditworthiness is given. The most important documents include a profit and loss account, income tax returns and the last bank statements. With these documents, each bank can check the creditworthiness of the applicant and then decide whether a loan can be awarded without a fixed income.
Collateral is very important for loans and can therefore increase the chances far more. Thus, insurance policy or guarantors can increase the credit opportunities. However, an insurance policy must run for a long time, because without a high repurchase value, the bank does not consider this as collateral. A guarantor must be creditworthy. The credit rating includes a fixed income, which is high enough to be able to pay off the loan. This means that the salary must be above the attachment exemption limit. In addition, the bank informs the credit bureau if there are any entries. As a guarantor, there should be no entries at best, as these lower the credit rating.
Where can a paydayloan be taken without a fixed income?
Not every house bank will reject this loan, so that the way here can be worthwhile. Otherwise, you can also search the internet for a lender. There are numerous offers that should be checked carefully. For a payday loan without a fixed income, the interest should be only slightly higher than a normal loan. Should the customer be required to pay in advance without the lender providing a service, these offers should be considered dubious.