There is not always an income or there is a garnishment of wages. In such difficult times, it is not easy to get by with what the consumer has throughout the month. A lightning credit without proof of income is very much in demand, but the question always arises whether such a loan is also granted.
Who grants a lightning credit without proof of income?
Banks and savings banks that grant a loan want to be sure that customers also have the money to pay off the loan. So proof of income is always required here, which some do not even have. In the case of unemployment and Social Welfare, there is no income, but a social benefit from the state. So it is not easy to get a lightning credit without proof of income.
A small possibility is to get a small loan of up to 500 USD from the bank as a overdraft facility. However, this will only be the case in the rarest of cases, because here too the customer has to pay the money back and also pays high interest. Most banks are skeptical of a overdraft facility if the customer is unable to provide proof of income.
Most offers for a lightning credit without proof of income come from credit intermediaries. There are very few reputable providers who have adapted to this critical clientele. It is always a risk for the lender to grant a loan if he does not know if there is a salary.
This service, which is offered to customers, is often awarded at high interest rates. This will almost always be the case to compensate for the lack of proof of income. Here, the customer should be listening carefully if the interest rates are set very high.
Can distinguish reputable providers from dubious
Many credit intermediaries do good business with their clients’ financial hardship. It is often promised that a loan will be granted on condition that insurance is taken out in advance. Some also require a home loan contract as an additional product before a loan is granted.
Very often it happens that an insurance or a building society contract is signed and the customer will no longer see a loan offer. It is very difficult to get out of these contracts and the customer will not see a loan amount.
It is important to read the small print in the contract. Conditions are often required here that the customer can easily overlook. For example, the ancillary credit costs or loan interest can be so high that the credit line is lower than the interest that has to be paid.
The customer should be taken aback if a credit intermediary is based abroad. It is not uncommon for these to use dubious business. However, this should not be compared to a credit broker from foreign banks, because here the bank is abroad and not the credit broker.
Conclusion about a lightning credit without proof of income
There are almost no ways to get a lightning credit where the lender does not require proof of income. Sometimes it can be a reputable provider, but the majority work with immoral offers. In such a case, the customer should rather contact their bank and seek advice. In addition, small amounts can also be borrowed from family or friends.