If you are interested in knowing everything about the loans for unemployed, You are in the right place, we know that on many occasions when we are in the job search stage, many expenses can arise that perhaps with our savings we cannot cover, that is why it is so important to know what all the options we have. So you can not stop reading this article.
Many have wondered what the process is like to apply for a loan for the unemployed? For that you must continue reading this article, we will provide you with all the information.
How to apply for loans for the unemployed?
We know that everything that has to do with loans or credits when we are unemployed can be quite a complicated issue, since no banking or financing entity would feel safe giving it to us, since we do not have a regular amount of money that we allow you to meet the monthly installments to be able to cover the debt.
Even if you find yourself receiving what is known as the unemployment subsidy, the banks would still not feel secure in being able to give you a loan, so we could think about whether, because I am unemployed or unemployed, we should not even try to apply for a loan.
The quick answer to this question would be “No”, and this is for the reason that we already mentioned above in the previous two paragraphs. And it is that the banks to be able to give this type of benefits must have certain guarantees, basically it is that you have all the necessary resources to be able to repay the amount borrowed in comfortable accounts that will be charged monthly, quarterly, semi-annually or annually depending on the modality that has been chosen. What we call necessary resources can be reflected in money saved, monthly salary, family assets, among others.
So based on all this, what would be your options in case you want to request it, you must show the bank that you have the resources, perhaps not in monthly salaries, but in savings deposited in the bank or in family assets, for this the When the bank has this information, it will proceed to make a proper evaluation of that money, in this way being able to ensure that the person is not going to be left with a debt with them, but rather that they have the resources.
Based on this, it is very important that if we find ourselves unemployed, we evaluate all these items very well, since perhaps instead of helping us and being a relief, the fact of asking for a loan can become our worst nightmare and put us in worst straits to our financial situation.
Scoring Rating
It is important to know that this assessment process that we talked about previously is called "Scoring", so we can ask ourselves what this consists of. Basically, a total evaluation is made to the client, not only of his assets and savings, but also aspects such as profession, age, marital status and seniority in the job are included (This point is taken into account if you have a job at the time of make the request, otherwise, this point is placed in the assessment given to the unemployed).
If, when adding up all the scores, the value is above the minimum established by that bank to be able to give a loan, then it will be approved and an estimate of the amount of credit to which you can aspire will be given.
We know that you may be interested in knowing which are the main credit characteristics, for that we invite you to enter the previous link and discover all this information, since if you are interested in applying for a loan it is good that you know everything that this involves. Don't stop reading it.
Requirements to apply for loans for the unemployed
In the event that you are unemployed but the Scoring evaluation gave you a score that allows you to apply for a loan, you must take into account that it is necessary to meet some additional requirements, which we will mention below:
- Being of legal age (over 18 years of age)
- Have Spanish nationality (If not, have at least one residence permit)
- Not having pending payment debts (There is a limit amount of money which should not be exceeded, in most banks this is 1000 euros, but it is important that you can go to your bank and in this way corroborate this information)
- In addition to presenting proof of monthly income (These can be for loans, subsidies, pensions, among others, the route is indifferent, but it must be demonstrated)
If you comply with everything we have mentioned so far, then you are on the right track, apart from this you will need to present the following:
Fill out a form which can be physical or you can do it through the website of the bank where you are applying for the loan. In this form you will be asked for different information such as your full name, identity document number (DNI) and proof of certification of your income.
After this, the verification of the data that was delivered to the banking entity is carried out and in this way, to be able to give you an answer, which can take from hours to weeks, so you must have a little patience and wait for the corresponding evaluation.
In this way, the process would be completed to be able to finalize the corresponding loan or financing, giving you real and potential amounts that can help you meet the specific goal for which you need this money.
So now you know, although requesting loans for the unemployed can be a little more complicated and you may have some additional obstacles, do not limit yourself to doing it. Since depending on your evaluation you could be surprised, yes, always do it with awareness, so that this can be a help for your life and not a headache.
Almost every time financial entities care about giving you alternatives that help you make the best decisions, so do not hesitate to listen to them and take the options they can offer you.
We hope we have helped you solve all your doubts about loans for the unemployed, but as we know that some additional questions may always arise, we encourage you to watch the following video, with some additional points that will help you discover more information on this topic .