According to statistics, the unemployment rate in Poland has been falling continuously since 2013. Currently it is at the level of 4.4%. This means that the domestic labor market is incredibly favorable. However, despite low unemployment, some people are still affected by the problem of unemployment. What to do if you are not employed but there is a sudden need to take out a loan? Can the unemployed get a loan?
An unemployed person – what does this mean for the lender?
From the point of view of a loan company, an unemployed person is a person who does not remain employed under an employment contract (not necessarily registered at the Labor Office).
Some loan companies consider applications for payday loans for the unemployed positively. However, this does not always depend on the status we have formally given by the employment office. Lenders pay attention, first of all, to the income of the applicant. If the applicant’s account receives funds other than due to the performance of work – loan companies may consider that this is sufficient guarantee of solvency of the potential debtor.
What income can loan companies consider?
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Loan companies often accept any income statement. Thus, when taking out a loan, the solvency guarantor may be the income from alimony, various additional activities that bring money or sometimes even a 500+ benefit. It is important that the potential debtor’s account regularly appears with money. Loan companies will often not find out what the source of income is.
Is income enough?
In the case of an unemployed person, the mere guarantee of receiving regular sums of money may not be enough. It is good if the additional applicant for a loan does not have a negative history in the debtors’ bases and has no other financial liabilities (debts). In strengthening your opportunity in the application process, you may also need certificates regarding the regularity of payments, such as rent.
Can an unemployed person get a loan?
There is such a possibility. However, we encourage you to thoroughly rethink the financial commitment if you have no stable income. Let us remember that it is good to make financial decisions with due care. We also recommend choosing proven loan companies, which will avoid problems with paying off your debt. As you can see, unemployment is not synonymous with problems getting a loan. Remember, however, that everything should be approached wisely. In a sub-gate situation, think carefully whether you are able to pay the liability on time.