A certificate of income is required to take consolidated loans or certain loans. Meanwhile, not every employer is willing to offer a permanent contract of employment. Many people keep their jobs on the basis of a contract of mandate or contract for specific work. Everyone can have financial problems or unforeseen expenses, therefore also people without permanent employment should be given the opportunity to take out a consolidated loan. The answer to these needs are the offers of non-bank institutions that offer consolidated loans without income from work.
No income documented
Such a consolidated loan is a solution for people who earn income from work, but do not have contracts entitling them to apply for traditional consolidated loans. In this situation, non-bank companies must check the customer and its solvency to ensure that he will repay the borrowed amount in accordance with the agreed terms. Checking may take place on the basis of a bank account statement, as well as a review of documents confirming fees for gas, electricity or rent, among others. Some companies also take into account the possession of real estate for collateral or movable property.
What is a consolidated loan without income?
A consolidated loan without income certificates is an offer from non-bank institutions. Most consolidated loans of this kind are granted completely online, although there are also companies that offer a home visit of a consultant. Such consolidated loans, like most other offers from non-bank institutions, do not require a visit to the bank. In many cases, you just need to sign a statement with income information, but without having to document it. However, there are companies that require a bank account statement.
What counts as income?
Many people forget that the source of income can be not only a fixed salary from the employer. There are many more opportunities, and the higher the amount of income, the greater the chance of getting a consolidated loan without certification. Therefore, it is worth analyzing your income sources and summing them up. You can include:
– pension or retirement pension;
– earnings for odd jobs;
– passive income and additional payments
The benefits of a consolidated loan without income
Of course, the biggest advantage of this type of consolidated loan is that it can be contracted by people who do not have a contract of employment. Sometimes such a consolidated loan is the only solution at the moment when financial problems or the necessity of fast repayment of existing liabilities appeared. While the bank has no chance of getting any consolidated loan, because not only a contract of employment is required, but also meet a number of other requirements, in the case of non-bank institutions, this problem does not exist.
It is enough to meet the requirements of a company offering a quick consolidated loan, but these are not excessive conditions. In most cases, the expectations of the institution and the necessary money can be met without any problems. In addition, most offers do not even require leaving your home – everything can be done with the help of a computer, filling out the appropriate form and waiting for a response. The whole process takes up to a few days and the money appears on the account almost immediately after consideration of the application. The formalities have been minimized so that the whole process is quick and does not require much effort.
Types of consolidated loans without income
consolidated loans without income from work can be short payday debts, which is usually 30 days, although there are also 60-day offers. Such an obligation can also be repaid in installments. The amount of the consolidated loan without certificates is usually a maximum of PLN 9,000. In the case of consolidated loan amounts granted in installments, it is possible to obtain up to PLN 25,000.
A consolidated loan without income and interest
It is worth remembering that granting consolidated loans without a certificate of income is a big risk for a non-bank institution. Therefore, it must somehow compensate them by establishing higher consolidated loan installments. In this way, in the event of failure to comply with the contract, the company will not incur large losses. Checking the amount of installments is therefore one of the most important issues before taking out a consolidated loan. It is also important to check the costs that are associated with the failure to pay the consolidated loan on time. Anyone may have a delay, so it is worth ensuring that it does not cost property. It is also worth knowing that, according to the regulations, the interest rate can not exceed 4 times the lombard rate.
A consolidated loan without certificates and a contract
The most important thing before borrowing without income from work is of course to read the terms of the contract, which will avoid any surprises in the form of additional costs, for example for delay in repayment of the obligation. Some contracts, however, are very complicated to hide any decisions unfavorable to the borrower. However, it is worth remembering that it is the responsibility of the lender to answer all questions and dispel all doubts. If the answers provided are evasive or vague, it may be a sign that such a non-bank institution is not trustworthy. It is worth checking the given company on the Public Warning List and find out if the company has any problems with the law. If this also does not dispel doubts, you can also use the lawyer’s advice or free assistance from institutions such as the consumer helpline, the Municipal Consumer Ombudsman or the Advice Center run by experts of the Consumer Federation.
How to find the right consolidated loan company?
New consolidated loan companies are constantly emerging in Poland, while those that already exist are trying to develop, expand and modify their offer. This makes each of them work on a slightly different basis. What’s more, those companies that are just struggling for market position often offer more attractive solutions, wanting to attract more customers. Each of these companies has its own process of verification of potential borrowers and offers different consolidated loan repayment terms. Therefore, before making such a commitment, it is best to review all the offers available on the market and compare the proposals from various non-bank institutions. The simplest solution is in this case to read the ranking of lenders and review all the pros and cons of individual offers. This will allow you to quickly select the most favorable proposal on the market. If, however, no company is willing to provide a consolidated loan, it is worth considering whether private consolidated loans will be the best way out of the situation.