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Credit without a permanent employment contract.

For some people, the path to a loan is much more rocky than for others. This is especially important for people who want a loan without a permanent contract. The problem with a bank with such a variant is that the borrower’s creditworthiness cannot be guaranteed. A self-employed, unemployed or white-collar worker with a fixed departure date usually wants a loan without a permanent employment contract. titansnflofficialstore.com for clarification

The loan without a permanent employment contract: The applicant is self-employed

The loan without a permanent employment contract: The applicant is self-employed

The self-employed person has no employment contract at all and, to make matters worse, he first has to establish his company on the market. So he also has no secured credit rating because he has to build up medium and long-term customer loyalty. However, this is precisely what costs money, for which he actually always needs loans.

If banks give loans to the self-employed at all, banks request at least the business evaluation (BWA) and the voluntary self-disclosure. Additional collateral, such as real assets and guarantors, simplify lending. In addition, the self-employed person should make it clear that the loan clearly helps their own company (for example, new machines can produce more).

The loan without a permanent employment contract: the applicant of the unemployed

The loan without a permanent employment contract: the applicant of the unemployed

For understandable reasons, even an unemployed person does not have a fixed, let alone permanent employment contract. If he needs a loan, the bank leaves the company because of the lack of creditworthiness, unless the unemployed wants a very small amount and does not sign the loan contract alone. If he needs a loan, he can either contact a private individual or the state. However, the latter option only works if the borrower intends to use the money to leave the unemployment situation. The state specifically supports projects that are intended to help unemployed people make the leap into self-employment.

The loan without a permanent employment contract: the applicant worker

Temporary contracts are becoming increasingly common on the labor market. These are papers with a fixed exit date. With lending, however, this is only a problem if the fixed exit date is before the end of the loan term. Anyone who has signed a five-year contract but would like to repay their loan in three years will generally have no difficulties. It is more complicated if you have a three-year contract but want to pay off the loan in five years because the last two years are not covered by a salary.

In this case, too, the usual procedures are available to get the loan: This means either using a guarantor to grant the loan or scoring with other collateral. However, your job also plays an important role. For example, doctors are never long unemployed these days. The same applies to nursing staff or IT specialists. Those who belong to such a professional group can hope for a great deal of courtesy from the bank, even if they only have a temporary employment contract.

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How to build a good loan buyback file.

What are the supporting documents that you can be asked for when requesting a loan buy-back, and to what extent can your broker be ” indiscreet “? an elucidation on http://www.egebilsis.com/instant-approval-loans-bad-credit/

Requesting a loan buy-back, especially in these uncertain times, this requires good preparation in order to inspire confidence, a fortiori if the reason which motivates your request to buy back credit is linked to your difficulties in repaying your current loans. It is therefore normal that lenders seek to protect themselves against any default by their borrowers and that they therefore demand an ever-increasing number of guarantees.

Your broker becomes the lawyer for your credit repurchase

Your broker becomes the lawyer for your credit repurchase

For his part, your broker will have to defend your file with banking establishments, he is your spokesperson, your ” lawyer “, he must therefore know as much as possible about you in order to obtain the best possible conditions with regard to your situation.

Mandatory supporting documents for your credit buy-back

Mandatory supporting documents for your credit buy-back

He may therefore require that you provide him with a certain number of supporting documents such as:

– your national identity card (and that of all other possible co-borrowers),
– proof of address of less than three months (electricity bill for example),
– notification of housing tax and property tax if applicable,
– your proof of income (last salary slip or last tax notice for example).

Finally, and it is logical, you will be asked to provide a summary of your current credits as well as their amortization tables. Suffice to say that a good follow-up of these deadlines will constitute a significant asset in the follow-up which will be given to your request, and a borrower who has already shown himself to be in default does not inspire very great confidence in future lenders.

Optional supporting documents for your credit buy-back

Optional supporting documents for your credit buy-back

But it can also go further in order to reassure lending organizations on the stability of your situation and especially on your long-term solvency. You may then need to provide:

– your employment contract (to ensure the sustainability of your employment),
– supporting documents for your other resources (company shares, movable or immovable income, etc.),
– proof of family allowance,
– a bank account number,
– proof of home insurance,
– your family book,
– a copy of any divorce and / or separation of property judgments,
– an estimate of your real estate established before a notary,
– etc.

The list is not exhaustive and may be extended depending on your profile, which will be more or less positively assessed depending on the quality of your loan buy-back, your reliability as a borrower and the strength of the guarantees that you propose.