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Payday loans with no income

We are used to the fact that in order to borrow money, we must have income that will allow us to pay off the debt. However, there are also payday loans with no income on the financial products market. Such payday loans allow you to lend money to people who do not earn, and thus, in the opinion of the bank, do not have any creditworthiness to obtain a loan. Unfortunately, life can be very perverse and despite the best efforts, you cannot always be sure that you will get enough income or any income. Payday loans without income are an alternative for people who do not earn money at the moment, but their situation may change in the near future, and this will enable them to pay off their debts. In most cases, such payday loans are granted in small amounts and have a fairly high interest rate, but you should be aware that the lack of income does not exclude the possibility of borrowing money from a non-banking company. Check how the loan without income works and how to apply for it.

Payday loan without income - general characteristics

In the case of a loan, the basis for a positive credit decision is the income obtained by the person applying for the loan. Companies providing payday loans do not require their clients to have creditworthiness. In most cases, payday loans as proof are not verified in databases such as the Credit Information Bureau or the National Debt Register. The clients of loan companies do not have to provide certificates or even income statements. Payday loans without online income are granted only on the basis of an ID card and customer verification using bank accounts. Such a payday loan can be obtained by a person living on a pension, retirement pension, research scholarship or social benefits, for example a 500 plus child care benefit. Payday loans for the unemployed are dedicated to people temporarily or long-term unemployed. Loans for the unemployed are now available from most loan companies. In practice, taking such a loan is possible both in the case of earning income that is not the result of work under an employment contract, and in the case of complete unemployment and no income. Of course, this is a quite dangerous situation for loan companies, because the risk of non-repayment is very high. Nevertheless, companies protect themselves from large losses by setting fairly high costs for such loans. If you do not have documented income, you must take into account that the loan company's offer may not be as advantageous as an analogous offer made to a person receiving income.
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How to get a payday loan without income?

The application for a loan with no income is the same as for any payday loan. You just need to visit the website of the loan company offering the best payday loan, fill out the online form, specifying the loan amount and repayment date, and then verify your identity using your bank account or GIRO confirmation. 500 plus payday loans are available for people with documented income from social benefits. In this case, the 500 plus benefit is a source of income, but this income is not taxed, so in the eyes of the loan company, it can replace professional income and be the basis for granting payday loans without income . After submitting the loan application form, we receive a loan decision, and if this decision is positive, the money goes to our bank account usually within 1 day.
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Payday repayment for the unemployed

Receiving a payday loan without income is not difficult today, it is really difficult to pay off such debt. Loan companies approach their work very flexibly and extend the range of their activities even to customers who have no prospects of repayment. The fact that payday loans via the Internet are so well available does not mean that such a loan will be a wise solution for every person. You must remember that the lack of income is a huge problem in paying off any obligation, especially since you have to pay back more than you borrowed. In most cases, payday loans without creditworthiness are granted for the same period as payday loans for people earning income, i.e. for 30 days with the possible extension of the repayment time by 7.14 or another 30 days. This repayment time is relatively short, so to be able to pay off such payday loans without income , you must expect a greater inflow of cash in the near future. It is best to take out an unemployed loan when you know that you will have a job in the near future.
Payday list

How much can a loan without income be?

Each loan company has its own minimum and maximum loan amounts, but you need to know that without income, the maximum loan amount will always be less than when you applied for the loan and confirmed your income. Usually, quick loans with no income are granted up to $ 10,000, although there are also higher offers, but then loan companies may demand some security, e.g. they provide payday loans against cars.
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Comments on payday loans without income

Life writes different scenarios ... you can't assume anything.
Jarski 07-05-2019 18:43
and if someone has no income, how do he want to pay off such a loan? I don't think it's the best idea ...
street June 17, 2019 19:07
Well, but if without income, how will the person pay it back? A strange thing in my opinion.
Elka June 12, 2019 13:36
Taking a payday loan and not having any income, you can easily fall into the debt loop. And this is no laughing matter. That is why I am not a supporter of this type of solutions. If someone has no income, he should not take loans.
Tymka May 2, 2019 19:19
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