The loan without proof is a consumer loan designed to meet a quick need for money. The money requested can be used to make an unexpected purchase or to make up for a lack of cash. In short, the borrower is free to use the money, without having to justify its use.
Credit application formalities without supporting documents are simplified in order to provide a response in a very short time to borrowers. That’s why this type of loan is generally described as easy credit or fast credit. Find the best fast credit offers with our simulator Compare offers
Borrowing without proof means that the borrower is not required to justify the use of the funds received. There are different types of credit without proof. This concept should not be confused with that of a loan without proof of resources.
Indeed, financial organizations always ask borrowers to provide certain documents to ensure that they have the means to repay. It can be proof of identity, proof of income or the latest statements of account.
Borrowers with temporary or temporary contracts can also access the credit without proof provided they have a stable income or a certain guarantee. Thus, the credit can be obtained more quickly if these necessary documents are gathered beforehand. Finally, no matter the pressing need for money, it is advisable to stay in the legal circuit to avoid falling into the trap of potential crooks.
Although the loan without justification is prized for its flexibility, this freedom of use may also be a disadvantage in certain situations. Credit without proof does not provide guarantees as is the case with an assigned credit. It can not be canceled even if the object for which it was contracted is no longer available, or the reason for the need for money is no longer relevant.
The borrower is still obliged to repay the amount borrowed. It is important to evaluate the need for cash and avoid being too greedy about the amount of credit. Borrowing too much money can have a negative impact on the borrower’s financial situation if the reason for the need for financing changes.
A credit without proof can be subscribed in different ways. Most credit agencies offer this type of loan. But going to your usual bank can simplify the procedure since it already has the necessary information.
Opting for an online comparator is also a practical solution. This tool allows you to see all the loan offers available on the market in a few clicks. The borrower has a clear and precise idea of the terms of his future loan (monthly payments, interest, duration …).
Finally, there are platforms dedicated to lending money between individuals to obtain a loan without proof of use. This alternative has the advantage of being simple and less expensive compared to loans contracted with financial organizations. It is particularly suitable for small loans, and for people with lower incomes.