Month: March 2020

Get money with loans without payroll and without guarantee.

Are you in need of money and don’t know where to get it? In that case, let us tell you about loans without payroll or endorsement , because they may be your best option. Pay attention because you may be at the end of your financial problems!

What are credits without payroll or online guarantee?

Before talking about loans without payroll or endorsement, it is convenient to explain what exactly is a loan like this . And, as you can suppose, the loans without payroll or guarantee are a credit that mixes loans without payroll and a loan without guarantee.

However, it is true that saying this, by itself, is not explanatory enough. So let’s dig into the explanation:

Payroll loans are loans that are granted without the borrower needing a payroll at a company. That is, the financial institution will not require that type of monthly income (although it may require another type of recurring monthly income).

Unsecured loans are credits that do not require you to use any guarantee as collateral (you know, collateral is that guarantee that you offer so that, in case you do not comply with the repayment of the loan, they will keep something – generally, a car or home).

Therefore, a loan without payroll or guarantee is a loan that combines these two characteristics in one. Thus, they will not require you to have an employment contract, nor to have a guarantee with which to guarantee some type of compensation in case you do not comply with the return of the loan.

And, surely, you’re wondering … And why do lenders decide to take so much risk? And the answer is really very simple: The more risk someone who lends money assumes, the more interest they are entitled to collect.

Therefore, when you go to a loan without payroll or guarantee, you already know that you are going to have to face somewhat higher interest than other types of loans. However, in most cases, it is the best option at your fingertips.

At the end of the day, it is better to face somewhat high interests instead of putting your car or your house (or, worse, your parents’) at risk. Therefore, it is normal for many people to resort to this type of loan.

What are the characteristics of loans without payroll or guarantee?

Below, we mention what are the main characteristics shared by loans without payroll or endorsement (although, of course, these characteristics may have slight variations depending on the entity you go to):

1. Reduced amounts: The first of the characteristics of this type of loan is that they are usually of small amounts. Although there are exceptions, we seldom encounter loans of large amounts of money. They are rather to solve specific and unforeseen problems.
2. Variable terms: The terms vary greatly, but it is relatively common to find loans that must be repaid in full (principal and interest) at the end of the same month or the following month. However, we can also find more classic loans, with monthly installments.
3. Possibility of deferment: The vast majority of this type of financial institution are aware of the complicated situations their clients go through, and that is why they usually offer them the possibility of deferring payment of fees in exchange for reasonably low commissions.
4. Higher interest: As we said previously, these loans normally have a somewhat higher interest rate than other types of loans, since the uncertainty on the part of the entity is greater. These interests are at a fixed rate and usually range between 4.5 and 14%, although sometimes they may be higher.
5. Online processing: Another important point of this type of loan is that they are totally online. That is, you do not have to do any processing offline. Therefore, you save paperwork and gain comfort (and speed, as you will see in the next point).
6. Quick availability of money: Both the processing and the validation of your credit, as well as the delivery of the money after the validation, are carried out in record time. All this, of course, is so thanks to the fact that it is processed completely online.

As you can see, the characteristics of this type of loan make it most interesting for people who are in financial difficulties and who cannot offer a payroll or a guarantee to obtain that extra liquidity to resolve their contingencies.

What are the requirements of these loans?

Now, after seeing the characteristics of this type of credit, we can go on to take a look at the requirements that they usually require to give these loans without payroll or guarantee (again, this may vary depending on the specific entity you go to):

1. Be of legal age: In most of the loan entities without payroll or guarantee, it is usually required that the borrower be of legal age. However, in some entities not only that is required, but that minimum age is raised a little to 21 or even 25 years (in order to ensure that you will be more responsible).
2. Being a resident in Spain: Another requirement is to be a resident in Spain. It is not necessary that you were born in Spain, but you do need to have one of those two identity documents.
3. Being a bank account holder: Another requirement is to be a bank account holder in your name. This, naturally, is to be able to give you the money once the whole process is completed.
4. Have a recurring income: Although loans without payroll or endorsement do not require you to have a payroll, it is usual that they require some type of monthly recurring income. This income can range from a simple subsidy, to an income from capital goods, an unemployment subsidy, a retirement pension … Any recurring income can be worth.
5. Sometimes, not being in Financial Credit Institutions: Some entities will not offer you the loan if you are present in the Financial Credit Institutions lists (that is, delinquent lists). However, this is not common to all financial institutions, since many of them analyze you personally and may decide to give you credit even if you are in Financial Credit Institutions .

As you can see, the requirements to access this type of loan are minimal and do not entail any difficulties. Virtually anyone who wants one of these loans can access them.

The best entities to obtain credits without online guarantee or payroll:

Lastly, to remind you that at Credit & Go we work with what we consider the best entities to obtain this type of loan without payroll or endorsement in Spain (after having studied a huge number of them and comparing them with each other). Find out on our website and request the loan without collateral you need.