Loan Conditions If You Are Collecting Only Unemployment
When you are unemployed and therefore do not have a payroll each month, but you are collecting unemployment, you can apply for a loan. Of course, in this case, when requesting it you will have to meet a series of specific requirements due to your situation. The first of them is that you have enough monthly payments to be receivable to be able to return it.
That is to say, that the amount that you are going to receive as unemployment benefit is considered sufficient to be able to face the payments. Probably, they also calculate that you will be able to face a payment each month. Apart from this, almost in all cases they will ask you for proof that you have sufficient regular income. In this case, that you are receiving unemployment benefit.
In some cases, the entity to which you request the loan may ask you to have some property as collateral for repayment of the loan. For example, with a car. In this way, with it as a guarantee, they ensure that they will have compensation if you are not able to repay the loan terms as established when the loan was granted. When doing so, depending on the amount requested, they will tell you how much you must pay each month to return it. Loans guaranteeing the car can be an interesting alternative if you are unemployed.
In addition to the requirements to be met in these cases, you will have to meet various requirements common to all loan applications. You will have to be over 18 years old, and have Spanish nationality or a valid residence permit. On the other hand, in most cases it will be necessary that you do not have other debts that exceed a certain amount that are pending payment. Do not forget about the paperwork, since you will also have to fill out a form to apply for the loan. You may have to provide information about your employment or income status.
Is it possible to request a loan if I am collecting unemployment?
Yes, requesting a loan if you are collecting unemployment is possible. Of course, it may not be granted in all banking entities or dedicated to granting loans. To begin with, the fact of not having a payroll is an obstacle for many. Even if you are receiving a benefit for being unemployed and you have several months left to exhaust it. For this reason, in addition to asking at banks and seeing the conditions they offer you, you may be interested in going to entities dedicated to granting loans through the Internet.
Another factor that influences whether you can request a loan when you are collecting unemployment is the amount you are going to request. In this situation, entities do not usually grant loans of large amounts. The main reason for this is that they make sure you can return it. That’s why they check how many months of benefit you have left to collect, and how much you collect each month of those you have left.
In general, in addition, these loans are granted only for contingencies. For this reason, they usually have a limited amount, with a maximum of a few hundred or thousands of Euros. The chances of being granted the loan will increase if you are not registered in any default registry, such as Financial Credit Institutions. In this way you will demonstrate that you do not have outstanding unpaid debts, and you will be more reliable.
In the event that you are unemployed but you are not receiving an unemployment benefit, your possibilities to request a 대출 will be quite reduced. Unless you have recurring and regular income of another type, it is very likely that you will not be granted a loan. And remember that in this case, you will have to present proof that you have regular income. You will also have to report how much you enter each time.