Today, the classic solution for finding financing is the use of credit. It is a system that tends to grow more and more, without forgetting that credit is also evolving day by day with new modalities. That’s when the famous credit without proof appeared. At first glance, it looks like it’s most appealing. But like everything else, it’s a system that remains ambivalent.
Understand the concept of credit without proof
Credit without proof, is it possible? This is the first question, as we are used to lengthy procedures requiring many files and many parts as part of a subscription to a credit. It must also be emphasized that each time an institution grants a loan, it is also a risk that it takes. So, what are we talking about when we talk about credit without proof?
First, you have the credit without proof of use. This first form of unsupported credit is what we classically call unassigned personal credit. Unaffected, to the extent that the borrower has no justification to make use of its credit.
Then you have the credit without justification in the context of the constitution of file, that is to say, a loan in which the standard supporting documents are not required.
Benefits to subscribing to a credit without proof
More flexible and much faster, these are the two main advantages of this new credit system appeared recently. Indeed, the credit without justification was precisely established for the establishment of a fast credit, through an accelerated procedure and much less complex. For example, unlike a conventional loan, which is generally called a credit, in the case of a loan without proof, no consideration is required. So you do not have to provide so-called “contributions” in conventional credit, nor is it necessary to exactly and expressly reframe the project to be set up through credit.
And precisely, we should not forget this great freedom that will enjoy the borrower, as it is an unallocated loan. Thus, he remains free to finance any project of his choice, with the only condition of proceeding regularly with the repayment of the credit contacted.
The disadvantages to see in the loan without justification
Since this is a risk that the institution takes, and especially since it is doubled as part of a loan without proof, you understand that the cost will be much higher. You will notice first the rising cost of interest rates.
In return for the great freedom you will enjoy in the use of the amount borrowed, against conventional loans, it is impossible to retract or cancel the credit if the transaction to be financed is canceled. The obligation of reimbursement remains valid in all cases.
