More than 12 million people are out of work in Brazil, according to data from IBGE (Brazilian Institute of Geography and Statistics). Seeking to start a business to start over or even with the intention of paying debts, many people start looking for loan for unemployed. But after all, how does the credit application without proof of income work?
We will explain the step by step for you to find a personal credit in this situation.
How to apply for a loan for unemployed?
apply for a loan for unemployed?” />
If you are unemployed you have no way to prove your income and this makes it difficult to apply for a loan. This is because without the guarantee that the customer will have credit to repay his debt, the lending financial institution has more risk in making the loan and consequently reflects this in the financing interest rates.
To apply for this loan for unemployed you need to look for a trusted financial institution taking your personal documents with you:
- Proof of address.
In addition, the creditor may request some extra documents, as well as contact details. It is worth mentioning that it is important to warn these people about a possible connection, so that no problems occur.
If you have a positive sign up it will be easier to get credit that can help you pay off a debt or even start a business.
What is microcredit for the unemployed?
Several financial institutions offer microcredit as a loan alternative to the unemployed. It is nothing less than conventional credit operations, with lower interest rates and average repayment terms that take several months to start.
This is a good option for starting a business or for paying off a debt when you get a new job, even if it’s informal.
Advantage Of Getting A Loan
Getting on the overdraft or paying the credit card revolving can be very expensive. It can also cause you to sink into debt. Therefore, betting on a loan application can be a good solution as interest rates are considerably cheaper.
What should I know before applying for a personal credit?
Unemployed or not, before applying for a personal loan you should check the conditions offered. Interest rates, CET (Total Effective Cost), installment amounts, terms to start and finish paying. All of this information must be known before you actually opt for credit.