Several solutions allow a user to pay for a transaction by setting up several monthly loan payments without necessarily providing supporting documents.
A loan without proof is a sum of money paid by a bank that the borrower agrees to repay over a period specified in the contract, whether physical or electronic. Payments in several installments by bank card for purchases of consumer goods, whether in store or on a website, can be assimilated to a mini credit without proof. Once the payment is validated, the buyer is indeed liable for a debt cut into several monthly payments which are accompanied by interest to compensate the lender. He does not have to provide a pay slip or tax notice, for example, to obtain the agreement.
The holder of the payment card must then provide very little information about his personal situation since, generally, only his personal data is sufficient. The banks nevertheless ask that the date of birth be informed so that they can query the Banque de France files, in particular to find out whether the borrower of the small loan is on file. If the bank is notified of the presence in the FCC or FICP files, then it is very likely that the request for small credit without proof is refused.
In addition, a revolving credit option is sometimes integrated into personal bank cards. In this case, the user can freely choose to pay either in cash or on credit when he must settle a transaction for a minimum amount fixed in the conditions. If he pays using his reserve left available, the purchase will then create a loan whose monthly payment will be equivalent to a percentage of the price and which varies according to several levels of amount.
As a result, the card holder can take out a small loan without proof when paying. In fact, it was the bank advisor who made sure, when taking out the revolving credit, that the household’s resources were eligible for the grant of the money reserve. And it is therefore at this need moment that supporting documents can be requested by the agent in charge of monitoring the account.
If these small credits without supporting documents have the advantage of being practical for their speed and their flexibility, it is all the same advised that the user thinks about his capacity to be able to reimburse the monthly payments in the next months before paying on credit. The risk for the household budget is that it can no longer pay off the credits, which leads to debt distress or even over-indebtedness. Also, revolving credit is known for particularly high interest rates which increase the overall cost of an operation.
The weight accumulated by these small credits without proof, added to the possible mortgage and consumer credits assigned to a car or work project for example, can however be solved with a grouping of credits. Proposed by specialists in banking intermediation, this operation leads the borrower to collect all his loans to create a single monthly payment. In addition, to reduce your debt ratio, the household will benefit from a reduction in its monthly payment up to -60% compared to its initial cost. But to successfully activate this reduction mechanism, the bank must increase the term of the new loan put in place after the credit consolidation, which often causes the household to pay a higher overall cost.