A lot of new restrictions on fast loans came into effect in 2014 – for example, lenders need to better assess customer solvency and the penalty (but not default interest!) Should not exceed 10%, and so on. In this case, many may be wondering – can instant credit be achieved without official income? If it’s possible! However, keep in mind that borrowing false income / expenses can result in criminal liability.
Latvian Radio storyline
During the story of Latvian Radio it became clear that only a few lenders lend money to people with unofficial income. Several companies have been called, only one of which is not a member of the Latvian Association of Non-bank Lenders, has refused the loan because the borrower said there was no official income.
True, this practice of lending to people without official income is also common in commercial banks – banks are not already the State Revenue Service to check where the money comes from (at least if suspicious amounts and their sources are not identified).
Quick loan with unofficial income
So yes, quick credit for people who are not making money officially (but making money) is still available. Because the law stipulates that amounts up to € 427 do not need to be verified for the borrower’s income, he can rely on the data provided by him. Even if you still need to check your solvency, some companies do so by requesting screenshots from your bank account – and they can be fooled without the latest version of PhotoShop.
It is interesting to mention a fact in this regard. It is a common practice for fast credit lenders to call the borrower and verify the accuracy of the information they provide by asking them again. This is done to reduce the number of fraudulent applications that provide false data either on residence or income. As already mentioned, false information in your application may result in criminal liability.
The fact that income and expenses can be specified as you want of course allows you to simply lie. Nor should you do it for yourself. We want you to borrow responsibly and always provide true information when applying for credit.