Credit without pay slip

When applying for a loan, the pay slip usually serves as proof of the earned income and is requested by most lenders. In some cases, statements of the past three months are to be submitted, although the current wage statement also contains the total values ​​of the current calendar year. Payroll and payroll are largely used interchangeably, in fact the salary refers to a fixed monthly salary and the wage to a precise payroll based on working hours.

There is a tradition of doing without payroll

For loans that are not directly paid out, credit without payroll is the traditional form of processing. Since the introduction of the installment payment function, mail order companies have almost always refrained from providing wage data and only deviate from this practice for high order values. Many credit card issuers issue the requested credit card without proof of wages and initially grant their new customers a limited amount of money.

Only if your member wishes to increase this framework do they subsequently request a proof of income. The disposition loan is also a loan without proof of wages, especially since many financial institutions require regular non-cash payments to be made available without evaluating their exact origin. However, the loans traditionally given without proof of wages are earmarked or subject to high interest rates.

Modern lending without pay slips

Modern lending without pay slips

An instant loan is often processed as a loan without a pay slip; the customer receives the loan amount requested at his free disposal via his checking account. The omission of templates for pay slips is used for quick loan processing. Since financial institutions promise immediate disbursement within two bank working days, they cannot check submitted income statements or can only check them superficially, so that they sometimes refrain from sending them.

For borrowers, the loan without pay slip is advantageous if their monthly income is subject to strong fluctuations or is made up of remuneration for various activities. In this case, it is possible to include all income in the monthly household income, while credit banks sometimes cut off additional income from freelance work. Likewise, the employee can form an average value in the case of monthly fluctuating wages. Of course, he is not allowed to make deliberately untrue statements for a loan without a pay slip, this can lead to a later termination of the loan without notice despite proper repayment.