This question is very popular among those people who urgently need to receive a certain amount of money for various needs. And is this loan made out at all? We will try to answer these pressing questions.
Like a loan without collateral, a loan without account statement is really important. Previously, we have already indirectly touched on this topic when discussing cash loans. However, indirectly – this is one thing, because this type of lending deserves a separate and more detailed discussion. Also right now you will receive answers to the most common questions. Agree, it’s worth it to spend a couple of minutes reading your time. After all, as they say, who owns the information – that owns the world.
What are loans without account statement?
Those customers of credit organizations who cannot (or do not want) to provide a statement confirming income to the issuing credit company are seeking to get a loan without an account statement.
Is it possible to get such a loan? In many countries of the world this is really possible, but not in our country, where loans are issued exclusively with the obligatory provision of this extract.
Why are loans no longer issued without an account statement?
A few decades ago, when the lending market was not yet so developed, and the laws governing it were not written and adopted, anyone could easily get a loan without providing account statements and other documents that are mandatory in our time. Just a couple of minutes – and the right amount in your pocket!
All this gave rise to a huge number of financial scams and frauds. And unscrupulous people easily handled loans in the name of a stranger, after which their trace disappeared. Moreover, often those whose name was issued loans could live in peace for themselves and not suspect anything. Until it was time to pay debts, about which they did not even know anything.
The level of fraud grew like a snowball, so it was decided to issue laws governing the credit market, in particular, a credit law. Henceforth, all credit organizations that have received a license from the Financial Supervision Authority and have the right to officially carry out their activity on granting loans were obliged to observe a number of rules. And compliance with these rules was checked by supervisory authorities very, very strictly. For each violation, the companies put up a large fine, or even they could completely deprive the license.
All companies issuing loans, before the completion of the transaction were required to assess the creditworthiness of the client and understand that he really has the ability to pay off debts.
Why do not want to provide an account statement?
There can be many reasons to refuse to provide an account statement. We will analyze only a few of them:
- Too low income with huge expenses. A credit institution will not give you a loan if the cost of repaying it will exceed 50% of your income. It is very easy to verify this by statement of account, and that is why it is so often refused to provide
- The unstable and unstable nature of income. To count on obtaining a loan, the borrower should provide a statement of account for six months. And it is highly desirable that incomes be distributed evenly across the months. If you have received income for 5 months, but there will be a dash in 6 months, this alone will be enough to deny you a loan
- You receive income not through an account opened with a bank. If the salary is not transferred to the bank account, it will not be accepted by the credit institution for consideration. And you will be required to provide a salary certificate or other document that confirms your receipt of official income.
- You have no desire for anyone to know about your financial situation or to receive your personal data. An account statement is a document that contains personal information, and nobody wants to transfer it to third parties. But it is important to understand two points. Firstly, if you categorically refuse to provide an account statement, you can simply forget about the loan. No one will ever give it to you. And secondly, credit companies guarantee the complete security of all the personal data you transfer. And the fact that they will never be used by them for selfish purposes.
Whatever the reasons for your refusal to provide an account statement, you still have to do it if you expect to get a loan. The situation with the salary certificate is different – it is not mandatory for issuing a small and quick loan.