How to ask for a loan if I am unemployed
Unfortunately, more and more people are unemployed and can not find work. In addition, these people must face a series of recurrent expenses that can not be waived despite the employment situation. For this reason, many people are forced to ask for a loan from the bank but the problem is that the current banking situation does not allow banks to take risks. In we tell you some options so you know how to ask for a loan if you are unemployed .
Microloans
There is also the option of asking for a microloan, that is, a lower economic amount than conventional loans and for those that require less requirements. Currently there are many financial entities and companies that offer microcredits, which come to be loans to be repaid in the short term and for small amounts.
They represent a very useful resource to face punctual payments, although they must be returned in a month. Its characteristics and operation are very similar to express credits .
Mortgage
Another option to know how to ask for a loan if you are unemployed is to offer an additional guarantee to the bank that will help you to secure the loan. In these cases, one option is to mortgage real estate, that is, offer a home as collateral.
Many times recourse is made to re-mortgage, although it should only be done in extreme cases, as it can drown us even more. Unfortunately, the car does not usually serve as an additional guarantee for banks.
Obtain a bank guarantee
By not having regular monthly income (payroll), when you go to ask for a loan they will ask you for a bank guarantee, that is, someone who can face the payments of the installments in case you can not pay who signs it. This endorsement must be a person or company that has a regular and sufficient monthly income to assure the bank the loan repayment.
In addition, being a very specific situation, the bank will not settle for any guarantor, it will need one that allows it to minimize the risk.
Loans between individuals
Private loans allow two people to lend money without the intervention of any bank or financial institution. It is a resource that is increasingly used, although it should always be done by ensuring that all laws are complied with and in the safest way possible.
If you are interested in this type of agreement, the first thing you should know is that currently there is no law that regulates them so it is important that both parties leave everything in writing to detail the parts of the agreement (if you only do it verbally afterwards you can claim more than is due). For this reason, you can count on the service of a notary or make a private contract detailing:
- The parties involved
- The economic amount that will be provided
- The return fees
- The return period
- The interest that is going to be applied
- The conditions in case of non-payment
- And other aspects that you want to detail in the same
To make it totally legal, the next step is to take it to the Tax Agency so that the interest can be taxed to the IRPF. This type of loan is more immediate than that issued by a financial institution and, in addition, they usually ask for less guarantees; the interests are also usually much lower, something that motivates many people to end up going to these lenders.
In we give you more detailed information on loans between individuals.
Friends and family
Finally, one option is to borrow money from friends and / or family members . You should be very careful when taking this step because it could endanger your relationship and provoke discussions for money that may be final. It is important that you explain to the person in question why you need the money and why you can not get it by your own means; Being clear and transparent in your intentions is essential so they can help you without any problem.
Think that the more information you give your friend or family member about the use of money, the better it will be for them to decide to leave it to you; Therefore, you can present a budget with your economic needs and the return terms you have thought of. Being honest and realistic is the best thing so that this transaction does not suppose any misunderstanding.
In we give you more tips so that you know how to ask for money from a friend and that the situation is not uncomfortable among you.
