A credit application is related to the production of
receipts and resources, which for the bank is collateral. What about an
unemployed person, private pay?
Getting credit when you're unemployed is not so easy when
you can provide pay slips to the lending institution. However, a job seeker can
still be granting a credit, and it's easier still if the spouse is employed.
Better yet is able to prove that the spouse is employed for an indefinite
period and that its revenues allow a comfortable repayment capacity.
When an unemployed person applying for a credit, his past
profession can help to get a loan: indeed, despite an unemployment situation,
the stability gives confidence to the lender. However, a resume of numbers
punctuated periods of inactivity or a succession of temporary or seasonal
contracts will not play in favor of the borrower. A precarious situation would
at most get a quick credit repayable in the short term, but certainly not a big
loan like a credit auto, motorcycle, let alone a mortgage.
To avoid being faced with a refusal in a credit application,
it is better - whenever possible - anticipate. This anticipation is to
establish a small capital which will, in time, to serve as a personal
contribution. A person in unemployment has more opportunities to obtain credit
if it has a contribution. This is very likely to reassure the banker. But
again, the credit will be granted in proportion to the personal contribution.
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