The personal loan without a credit check: all you need to know

Among consumer loans, many formulas exist. The personal loan without a credit check is intended for people in urgent need of money or for people registered with the Bank of France and who are therefore refused all their credit applications. The loan without a credit check does not take into account the economic situation of the borrower. It is an easy and fast loan but certain rules are to be known.

The advantages of taking out a personal loan without investigation

In the context of conventional loans, the lender will check the credit history and the proper maintenance of bank accounts. For a loan application without a credit check, these criteria are less important and the processing time is therefore shortened. Intended for the general public, the credit without investigation does not require, a priori, any proof to be obtained. The borrower can therefore use the money as he wishes: a wedding, a trip, a new vehicle, pay late rent or bills … Unlike a mortgage, the lending institution is not in the obligation to know the projects of the borrower. No proof of use is required. The procedure for obtaining a loan of this type is accelerated. In the majority of cases, this credit is obtained on the Internet. The borrower applies for credit online and receives an immediate response. If it is favorable, the money is paid into the borrower’s account within a few days. Another advantage: the rates are advantageous.

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The rules to follow

Although this personal loan is obtained without proof, certain rules must be respected. If the borrower is already in a debt situation, he should not worsen his situation. The lending institution still checks with the Central Individual Credit Register, a platform that brings together all the loans concluded for private purposes by a person. We must not forget that a credit must be repaid. The borrower must therefore estimate alone his repayment capacities before subscribing to a personal loan without choosing the first loan that is offered to him. All the options will have to be carefully studied in order not to end up with a situation of over-indebtedness.

Who is eligible for a personal loan without investigation?

Even if for this type of personal loan, no investigation is carried out, certain supporting documents must be provided. Any natural person who is able to present an identity document, proof of address, payslips and account statements can subscribe to a loan. Account statements are necessary to verify the financial situation of the borrower at the time of the request and to carry out the credit transfer if granted. As for payslips, they are necessary to estimate the level of income in relation to the amount of credit requested. Once these documents have been gathered and repayment capacity is possible, the credit application is approved.

Legal persons, associations as well as companies can benefit from a personal loan without a credit check. It can be subscribed to carry out an urgent project or a purchase.

Despite their registration at the Banque de France, people prohibited from banking can obtain a loan without investigation. This is the only solution that will be granted to them to access financing. Thanks to this loan without investigation, it is possible to find oneself quite quickly in a more favorable economic situation, to avoid debt or to have fun.

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Read also: What to do when your mortgage is refused?

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