Getting a loan without a paycheck can be difficult. The fixed monthly income is, without a doubt, a good guarantee of the solvency of the loan and on the basis of the income from work it is possible to calibrate the loan. And who can not count on the paycheck or, in general, on a fixed income?
For those who can not provide the guarantee of a salary, the last word is not given: the loan to support one’s dreams or needs only needs the right solution.
The personal loan: the solution for those who do not have a paycheck
By asking for a personal loan, the credit institution or the financial institution to which you will be asked to obtain your loan, you will be able to evaluate the disbursement of the loan even without the guarantee of the paycheck. Some other conditions that will provide a guarantee and testimony of the solvency must be satisfied and the request will have to pass to the scrutiny of an investigation.
In order to apply for a personal loan, in essence, it is necessary to present requirements that ensure the lender of a fundamental fact: that the loan can be repaid on the agreed terms. The paycheck is one of these guarantees. But if you do not have it, you can request the help of a guarantor.
The role of the guarantor is soon said: if the applicant was unable to repay the agreed installments on a monthly basis (and only in this case), then a third party takes over and undertakes to pay the agreed monthly payment. In practice, the guarantor “replaces” one of the required guarantees.
- He can be a conjunct or a simple acquaintance;
- Must be able to demonstrate a fixed income (salary or pension) and a level appropriate to pay monthly installments;
- It must not exceed certain age limits;
- It must have creditworthiness.
Requirements for obtaining a personal loan
In order to apply for a personal loan, some basic requirements must be met:
- Italian citizenship and residence in Italy (or foreign citizenship and residence in Italy for at least one year with residence permit);
- Age between 18 and 75 years;
- Demonable income (in the case of non-demonstrable income, need to have a guarantor);
- To perceive an income (even if not as an employee) that is proportionate to the amount requested.
How to apply for a fast personal loan
Requesting a personal loan is rather simple. The procedure can start online. To know how to do, read this study. To find out what documents are required for the request, you can find out in our post Get a personal loan: here’s how in 5 simple and clear steps.
Learn more about the loan without a paycheck
Do you want to know more about this unfinalized loan that can be obtained even without salary? We reveal all its secrets in the content: Apply for a personal loan: 8-point guide on features and requirements.