An unforeseen event happens and it is necessary to count on extra money. What comes to mind at such a time? Make a Personal Loan? But what if this occurs in a scenario where the worker is self-employed or is even unemployed? Is it possible for a loan to be autonomous?
How can he get the loan without proof of rent? By the way, is it possible to make a loan under these conditions?
Loan for self-employed
The good news is that it is possible to do a loan for self-employed. Nowadays, it is even common to have access to the loan without the income being proven.
But keep something in mind. Because it is a procedure of greater risk, the conditions are different from those imposed for those seeking the loan and have as proof of income.
The first important information you should know when seeking loan for self employed is the following. Without having to prove that the loan will be paid, the interest rates charged will be higher than those used in a loan with proof of income.
This “detail” should be the subject of maximum attention on the part of the requester / client.
Even because there are several options for borrowing without proof of income. As well as there are various types of scams in the market that target those who are in need of extra money (let’s talk about this later).
Main points of attention
As there is often no other way, it is necessary to make the loan. You already know that this can happen even when there is no proof of income.
The important thing now is to follow the right path so that there are no frauds or other incidents of course. The first thing to be done, therefore, is to research. This is vital so that the client interested in making the loan does not fall into the clutches of institutions that are not tied to the Central Bank.
According to experts, the tip is always to resort to a company that has credibility. To carry out the loan, the institution will request some documents such as the RG, the CPF and a proof of residence.
Some companies may also request personal contact information for cadastral confirmation. Already think in advance who can fulfill this role. Before this stage, however, it is important to analyze the interest rates offered by the companies.
There are differences between them. And this is the information that can make all the difference when choosing the institution.
In addition to the fees, other information should be analyzed such as CET (Total Effective Cost), installment values, start-up and repayment terms, among others.
Scam: flee them!
As we have already mentioned, it is a market that presents several reports of blows. Therefore, double focus here. There are companies that act in bad faith and ask for deposit advances and extra fees. Never pay anything up front and check all the requirements for the loan before hiring. That means you have to read the contract very carefully to avoid unexpected surprises.
Clean name and calculations in day
One of the requirements to get loan for autonomous more easily and even without having the proven income, is keeping the name clean and the registration positive.
Another important point: even without having monthly income as security, it is essential to know if there are conditions to repay the loan. To do this, take some time to calculate the expenses incurred in order to have an accurate idea that you will be taking on debt that could be paid off.
Examples of loans without proof of income
Getting on the overdraft or even paying the revolving credit card can be very expensive for anyone who is in need of extra money. It is in this scenario that the personal loan gains space and presents some options of lines of credit for those who can not prove the income.
Let’s know the most common:
Loan with guarantee
One of the options for making loans without proof of income is with the use of collateral that can be assets such as vehicles or real estate. There are many financial institutions that make this option available, since the risk of default is very low.
For those applying for the loan, using these guarantees may be the best alternative for two reasons. You can get lower interest rates and you can also have longer payment periods (when the guarantee is a house, for example, this term can reach up to 360 months).
But what is the value that financial institutions place at the disposal of the client in this negotiation with guarantee of a good? In general, the credit available corresponds to a maximum of 70% of the value of the good that is used as collateral.
But here’s an important reminder: if the loan is not repaid, the customer will lose the good. It is, therefore, an option that should only be taken forward when there is adequate planning to pay off the debt.
Loan with guarantors
Another option presented in the market for those who can not prove the income is the loan with guarantor. This guarantor is usually someone close to the borrower. It has the role of contributing to the process of contracting credit.
The guarantor is nothing more than the person who provides his or her own proof of income or the guarantor for the applicant to carry out the loan.
There are companies that make unsecured loans available online.
Although it is a simple and fast way, it deserves all the attention and research. Be careful not to opt for a company that is not regularized with the Central Bank or even an institution that acts illegally requesting, for example, early deposit.
This online format may also offer higher interest rates in some cases, as it does not ask for guarantees for debt settlement.
Loan in financial
This is an option that will charge high interest and release a low amount.
However, it is usually the choice of those who did not get the loan in the previous options (above) and need the money urgently.
After delivery of the documents, the institution performs the credit analysis and then decides whether or not to grant the same.