The demand for paychecks is one of the first steps that banks and financial institutions make for a personal loan . But what happens when the person requesting the loan does not have a paycheck? We analyze all the possible cases, considering the possibility of access to personal loans without a paycheck .
Personal loan without a paycheck, but with a demonstrable income
The paycheck is the simplest way to demonstrate the perception of an income , but it is not the only one. In fact it is not said that those who are not in possession of a paycheck is not however a recipient of income. The most common case is given by self-employed workers and by VAT numbers in general. In this case there is no demonstrable income through a pay slip, but access to personal loans without a paycheck is subject to the possibility of proving the presence of an actual income . In the case of self-employed workers and VAT numbers, the financial or loan provider requires the submission of the last tax return . The number of required income documents could however be greater (for example two), above all for the activities started recently or for the lower incomes. In this case the provable income is equivalent in all respects to a pay check and the applicant can easily access personal loans dedicated to this specific category of people.
The particular case of pensioners
One could be induced to include pensioners among those who do not receive a paycheck. Even if this is true, it must however be considered that the perception of a pension allowance is in all respects a fixed income , which makes it possible to equate pensioners to a public or private employee. For this reason, as well as dedicated specific products, pensioners can also access the request for a personal loan with a paycheck, whose feasibility is evaluated in a manner that is not different from what happens to other subjects.
Personal loans without a paycheck in the absence of income
Unlike retired and self-employed, there are also categories of people who do not have a paycheck or other income. The most typical examples are those of the unemployed , young people , students or housewives . However, the absence of an income does not imply the automatic exclusion of personal loans from the market. In fact, payroll loans are also aimed at these groups of people, with loans specifically formulated for the specific categories to which a subject can be traced. Even in the absence of income there are different situations that can arise: we analyze what happens in the absence or in the presence of guarantees.
Personal loans without a paycheck but with guarantees
In the absence of a paycheck, the possibility of presenting guarantees in support of their personal loan application without a paycheck is considered very positive. The most widely accepted guarantee is the presence of a guarantor , ie a person who signs the loan together with the applicant, assuming responsibility in the event of impossibility of payment. In addition to the guarantor can be used as a guarantee of the applicant’s personal assets , such as real estate, but also movable property, such as life insurance or pension insurance that will be perceived in the future.
Personal loans without pay and without guarantees
However, when applying for personal loans without a paycheck, it is not always possible to provide an additional guarantee. This does not mean that the possibility of accessing loans without payroll is compromised. In fact, banks and financial institutions have created loans specifically designed for this eventuality, thus also granting those who do not hold a paycheck an opportunity to access credit.
An example of this type of personal loan is given by the changed loans (for specific details of this loan refer to the dedicated card on the site) or by the loans granted to the students or the unemployed, even in the absence of any type of guarantee .
Also significant is the presence of small personal loans, granted for small amounts and to which access is usually easier than larger loans.
Loans without paychecks: compare to choose the best
Regardless of whether there is a guarantee to protect the loan provider, it is always advisable to compare the largest number of personal loans, to find the loan that does not suit your needs. Very useful from this point of view is the possibility given by the online comparators , effective tools in the search for each type of personal loan, including online payroll loans.