A loan without proof, so that the borrower does not have to provide the necessary collateral, is no longer possible and highly unusual in today’s banking industry. Since reputable banks try to hedge their investment in terms of credit, the borrowers must, of course, also make it clear to the bank that they are not only suitable for the loan, but that repayment does not exceed the financial spectrum. The usual evidence which lenders demand for each loan are on the one hand bank statements and evidence of regular pay or salary payments, as well as the query of the credit bureau entry, which not only shows whether under certain circumstances a warrant for the person is outstanding, but also what current debts and liabilities still exist, as well as whether it may have come before once to payment difficulties.
Where to get a loan without proof?
A credit without proof is not obtained even with foreign or internationally active banks. Only the nature and completeness of the requested evidence may vary from bank to bank. Thus, numerous online and foreign banks offer the opportunity to refuse to query the credit bureau entry. This is particularly helpful if, due to an inattention or by mistake, a negative credit bureau entry has been received, or even wrongly listed in the credit bureau and the processing time for deleting the negative entry before the loan application has not yet been carried out. Here it is advisable for the borrower specifically to look for a loan without proof or a loan without credit bureau query and to compare the individual providers with each other.
In addition, there is often also the possibility, instead of the salary and salary statements together with account statements to submit only evidence of payments received. Some banks refrain from submitting bank statements, which is particularly useful to borrowers who have had to spend more on their bank statements in the short term before applying for a loan. Otherwise, the bank could interpret this negatively and thereby reduce the creditworthiness of the borrower, which indirectly also weakens its creditworthiness.
The credit without proof for everyone
At a professional level, the lenders, ie banks and the like, you will never get a loan without proof, if you are not willing to at least part of the usual collateral to ensure and prove. Only some evidence can be issued on the basis of the goodwill of banks, but some complete removal of all collateral is highly unusual and also usually associated with dubious business practices. If the borrower does not want to submit any evidence, a private loan is recommended.