There are several kinds of credits. In general, a distinction is made between earmarked and unallocated loans. Loans without supporting documents belong to the category of unrestricted loans. What is the principle behind this type of credit and why is it used most often?
Credits without supporting documents: what are the main advantages?
The principle of credit without supporting documents is that the borrower can request a certain amount of money without giving supporting documents. He receives his funds in just a few days subject to meeting all the requirements of the credit organization, and once his file has of course been accepted. Credit is provided under a limited-term contract. The duration varies according to the borrower’s repayment capacity and also according to the terms of the contract. Many individuals choose this type of credit because funds are usually quickly transferred to the bank account. The main uses are the acquisition of goods, other than a house or an apartment (mortgage). Credit without supporting documents relates more to goods such as motorcycles, cars, etc.
A loan without proof, flexible
It is also possible to request a reserve of money to renovate your house or renovate it, for example. Some use it to finance family events such as a wedding, payment for their children’s education or even a simple family vacation. Finally, it can also finance unforeseen events, such as a temporary need for cash or medical expenses that must be faced in an emergency. Beware, however, of certain parameters which it is important to take into account. Before taking out any loan, it is necessary to ensure that the situation is sufficiently stable and that the purchaser can repay his debt. In addition, it must not be filed with the bank or be in over-indebtedness. All these conditions must be met in order for the application to be accepted.
Credits without supporting documents have multiple advantages
First, it respects the privacy of the borrower, who can repay at his own pace, in months or years depending on the amount borrowed and his repayment capacity. The transaction is quick, which is a real benefit for those who need immediate cash flow. In addition, there are not many formalities, the file is therefore quickly taken care of by a credit organization without proof like cases. Freedom in the consumption of the loan is finally a considerable advantage.