When workers are unemployed, many unemployed need to cover their economic needs with an extra injection of money. That is why they doubt whether it is possible to apply for a loan in their situation. Of all the types that there is, only one is the one that can be requested in the banking entities of Spain.
Las unemployed people still have access to personal loans despite not having a job that assures them a monthly incomewhich generally assures the lender that you will get your money back. Despite this, and the fact that it can be more difficult to achieve it because you are unemployed, there are options that can be used.
not all ways to ensure that the amount requested will be returned depends on having a salary, but there are other ways in which an unemployed person can guarantee the loan and demonstrate that he will comply with its conditions. Therefore, the answer to whether an unemployed person can apply for a loan is Yeah.
Types of unemployed and financing
Banks, as mentioned, they will always ask for a guarantee to lend money that can be regular income or the endorsement of another person or. There are some banks that grant them without these conditions, but the loans are for small amounts.
For these reasons, banks differentiate between the types of unemployed and the financing possibilities that can be offered to them for a personal loan:
- Unemployed collecting unemployment: By having a fixed monthly income from the State, the options of being granted the loan are greater.
- Unemployed with a benefit already exhausted: Even if you do not have any benefits, you may have an investment, or income from rental properties that give you a fixed amount of money per month.
- Unemployed with guarantors: This is the case of those who have, for example, a family member who has a salary and can leave as a guarantee.
- pensioners: This is the case of people who receive a pension, for example from widowhood, orphanhood, or disability and are without work.
If the unemployed people require requesting a loan and are in some of the above cases, they must justify any of these with documentation that it is so required. For example, if they receive a benefit, or have investments, or own a home, they will have to present to the banking entity the vouchers. The bank in turn, and before deciding to grant the loan, will take into account the credit history From applicant.
Beware of fast money
exist many lending companies that offer fast and instant money for those who require it. They do it many times, without asking for guarantees and this could be an advantage for unemployed people, but you have to be careful because the small print of the conditions of the contract may have surprises.
shall be check the amount of interest carefully Because they are usually higher than those set by the banks, the deadlines are difficult to meet and the conditions can be confusing, leading the applicant to get more and more indebted.
