Conditions to get payday loans

When it comes to obtaining financial products, you may encounter difficulties if you want to hire loans without payroll. More complicated still will be to obtain loans without payroll and with ASNEF. Luckily, there are private lenders with whom you can buy this type of product. Discover payday loans at www.purplepayday.loan.

Can I acquire loans without payroll and with ASNEF?

Yes Obtain financing without having an easy payroll if we have another type of income that allows us to face the repayment of the loan, but being in ASNEF reduces our range of options, although we do have some entities that will allow us to obtain financing. In these cases, no bank will grant us a loan, although some of the private companies that have appeared during the last years can approve the application even if we appear in a defaulter file and do not charge a salary, something totally unthinkable a decade ago.

What has changed? Well, the arrival of many private lenders to our country has transformed the financial landscape and nowadays it is possible to obtain loans without payroll and with pending debts. Of course, we must know that the fact of having one or more defaults will mean that we can only access the financing offered by some private equity companies. Being in a file of defaults will be for all banks and many private lenders a sign of poor credit and a poor credit history. Therefore, our options, with or without payroll will be much smaller.

Types of credits with ASNEF and no payroll that exist

As we have said, if we are in ASNEF and need financing, the banks will not want to grant us any of their products, so our options will be smaller. However, certain private companies do offer us different alternatives with which we can obtain the extra money we need. Let’s see what credits we can contract if our data appear in a file of defaulters and we do not charge a salary itself:

  • Minicréditos: in the market, there are few private lenders that grant mini loans without payroll and with ASNEF, although the most used option if we need liquidity quickly and with a small amount are these credits. The conditions are very flexible, although we should know that the cost of these mini-credits is not small. The capital, normally, will not exceed 1,000 euros, although we can find a lender who offers us, even up to 1,500 euros. Even so, if we are with ASNEF we can not get more than 750 euros for the entities that do offer to finance with outstanding debts.
  • Loans with mortgage guarantee: if we need very high amounts, we can resort to this type of loans granted by financial intermediaries. However, to get one of these products we need to have a property that we can place as a guarantee. We can get amounts of up to 500,000 euros, although there is also the risk that we end up losing the property in case of not paying.

To be able to access the loans without payroll and with ASNEF we must comply with the requirements demanded by each lender. Otherwise, although the minicréditos are known to have more lax conditions than other types of financing, our request will not be approved and it will not be possible to obtain the financing we are looking for.

The average price of loans with ASNEF without payroll

Although they assume a greater risk of default, the companies that grant loans with ASNEF apply the same rates to all their products, so we will not have to pay more to appear in a file of defaults. The interest on these loans is normally around 1.1% per day, so if they lend us 100 euros to pay back in 30 days, we will have to pay a total of 133 euros.

To compare the price of several of these products is not advisable to use the APR, it is an annual indicator that will not be very useful for these products that are reimbursed after one month. Therefore, it is better that we take as a reference the cost of 100 euros to 30 days to know which of all the products we compare is the cheapest.

Conditions to get loans without payroll and ASNEF

As we have said, there are not many lenders that allow us to get loans if we are not salaried and have unpaid debts. These companies, in general, are fast credit companies that require few requirements to access their products, making it easier to obtain approval. The conditions of access may vary depending on who we go to, but usually, we must always meet the following requirements:

  • Have the age stipulated by each lender and that will be at least 18 years old since it is the age of majority established by law.
  • Reside in Spain and provide the entity with the DNI or NIE with which we will accredit it.
  • Demonstrate that we have a recurring and demonstrable income that can come from a payroll, a pension, a benefit …
  • Be the holder of an operational bank account

We must also bear in mind that if we are registered in an unpaid file, although we will not have to pay more nor will we have a limitation on the amount, the entities that grant these loans without payroll and with ASNEF will require us to comply with two additional conditions:

  1. The debt for which we are registered in a record of defaults cannot exceed the amount established by the lender in question. Normally, this figure is usually 1,000 euros, although there are lenders who will demand a lower default or allow us to have a higher debt, especially if we talk about home equity loans.
  2. The default cannot have any kind of relationship with banks.

From the financial comparator HelpMyCash.com we advise that if fortunately, they grant us a loan without a payroll and with ASNEF, we use it to settle the debt that we have pending and ask that they take us out of the file in which we are enrolled.

Documents to apply for loans without payroll with ASNEF

When we apply for loans with ASNEF and without payroll we will have to present several documents to the company so that it can verify that our data is true and that we meet the solvency requirements necessary to access its products. Most lenders will require us to present the same documents, although they may vary depending on the entity we go to:

  • Identity document: DNI, NIE or passport to prove that we are of legal age and that we reside in Spanish territory permanently.
  • A proof of income: when dealing with loans without payroll, the entity will need to make sure that we have another source of income that is sufficient and regular.
  • Bank statement: this document will help the company to certify that we are the account holders of the loan. In addition, they can check our income, fixed expenses and savings capacity to perform the evaluation of our viability as clients of their loans without payroll and with ASNEF.

Before sending the documentation, it is important that we make sure that it is updated and that it is perfectly legible. Otherwise, the lender may force us to resend the papers, which would slow down the entire process

Get online loans with personal or mortgage guarantee

Here you will find the best loans via CitrusNorth.com and request the product that best suits your needs.

What is the guarantee of a credit?

The guarantee of a loan is what the owner of a loan offers to guarantee the payment of the loan to the lender. Depending on the guarantee, we can distinguish between several types of credits:

  • Loans with a personal guarantee. Also called personal or consumer loans, these products have as a guarantee of payment the set of present and future personal assets of the borrowers, not a particular good. These credits are usually used to finance the acquisition of goods and services at a high price, although recently there have also appeared credits with personal guarantee destined to solve unforeseen events.
  • Pré loans with mortgage guarantees. They are credits whose only guarantee is the property owned (or practically paid) of the owner. In this case, the borrower must not have the income to access the product and the amount that can be requested is higher than in the case of loans with a personal guarantee. They should not be confused with mortgages, which are loans for the acquisition of real estate whose guarantee is both mortgage and personal.
  • Credits with another type of guarantee. It is also possible to obtain financing by placing as collateral any other specific asset (such as a vehicle or a taxi license) or a financial asset (shares, pension plans …).

In some cases, it is possible that the entity considers that the guarantee provided is not sufficient to respond to the payment of the loan and wants a guarantee to be provided as an additional guarantee. In this case, the person who supports us (the guarantor) will also be responsible for paying the debt owed to the lender.

How to get the best loans with a personal or real guarantee

Whether we ask for a loan with a personal guarantee or if we apply for a mortgage-backed loan or any other guarantee, there are several aspects to look for if we want to obtain the financing we need at the best price. Let’s see what they are:

  • Applied interest rate: it is a percentage that is applied to the outstanding capital and that establishes how much money will be paid to the entity. In general, the loans with a personal guarantee and with mortgage guarantee that are not mortgages have a fixed interest rate, which remains unchanged throughout the repayment period. However, there are also loans whose interest is variable referenced to an index (such as the Euribor), which may change depending on the fluctuations of said index.
  • Commissions: a credit with a personal guarantee, mortgage or any other guarantee may also include commissions, which are the cost of the steps that the entity must take to put the money at our disposal. Both the fees and the interest rate applied are reflected in the annual equivalent rate of the loan, which also takes into account other costs.
  • Related products: are those financial and non-financial services that we must hire to access a mortgage or personal loan. They are usually secure, direct debits (payroll, receipts …), credit and debit cards, etc.
  • Notary fees: many loans with personal and mortgage guarantees must be formalized before a notary, whose fees will be included in the price of the product.

With the Comparator HelpMyCash we can check the conditions of the best loans of the moment and compare them based on the criteria we have discussed to find the product that best suits our financial needs. In addition, if we click on the button “Contract” or “Request information”, we will access directly to the online portal of the lender, from which we can process our request.

What happens if I do not return a mortgage or personal loan?

Both in the case of loans with a personal guarantee and in the case of loans whose guarantee is mortgage or other, in case of non-payment, the property or goods placed as collateral may be seized to settle the debt contracted. However, before reaching this point, entities usually follow the following procedure:

  • Collection of fees and interest for late payment. If we do not pay a loan on time, the entity will charge us a commission for each payment claim and will apply a late payment interest higher than the normal interest on the loan.
  • Registration in a file of defaulters. If the default is prolonged, our data can be entered in a file of defaulters such as ASNEF or RAI. In this case, no bank or many private lenders will want to grant us loans, which will greatly reduce our chances of obtaining financing.
  • Judicial claim for the payment of the debt. As a last resort, the lender can file a complaint with the courts to recover your money. If we lose the trial, we will have to reimburse the credit (capital and interest), pay the surcharges for the delay and pay the legal expenses (lawyers, fees …).

If after this process we do not have sufficient capital to pay the debt, the good or goods placed as collateral may be seized to pay it off. For this reason, we always recommend not to contract a loan if we do not charge an income that allows us to pay the installments on time.