For a bank, a loan without a pay slip is almost like issuing a blank check. The key word here is creditworthiness. If a credit institution granted a loan without checking its creditworthiness, it would consciously expose itself to the risk of default. To prevent this, the industry basically insists on submitting a pay slip. This shows not only what gross and net salary is drawn, but also, by means of tax class and child allowances, whether and to what extent there are maintenance obligations.
Loan without payroll
The monthly wage overview tells the bank even more. That is, since when the applicant has been with the company and whether he has been with the company for 3 or 6 months outside of the trial period. It can also be seen for the money house whether parts of the wages are currently being seized. Since the money house without payroll cannot find out whether the monthly income is sufficient to service the monthly loan installments, a loan without payroll is doomed to fail.
Credit exchange does not need one
A loan without pay slip can be applied for via the Cream Bank credit platform. With more than 200,000 members, Cream Bank has been the largest credit market place in the Federal Republic of Germany for four years. This is where consumers come together who lend money on the one hand and want to lend on the other. The prospective borrower sets a loan amount between $ 1,000 and $ 20,000 as well as a term between 12 months and 60 months.
This also determines the interest rate for the loan without payroll. However, the conditions for the lender – this is more precisely investors – must be designed appropriately. Otherwise, no investor will agree to invest in the loan without payroll. Cream Bank cooperates with Lite Lender when granting the loan without proof of wages. The credit institution collects the investment amount and pays it out to the applicant as a loan. The bank also passes on the credit installment and interest to investors.