Are you unemployed and have money problems? First thing, know that you are not alone since 50,000 Belgians were in the same situation as you, at the end of 2017. The good news is that the number of unemployed in Belgium continues to decrease. Set up for individuals with low incomes, social credit is a consumer credit and / or mortgage credit option that will allow you to buy a used car, replace your boiler, finance training but also to access the property and that even with modest income.
Unemployed and financing in Belgium
First, it is decisive to understand why it is so complicated to have a loan when you are unemployed. Without a job, you do not have a regular income and your risk profile is not desirable for most banks. Banks are more willing to accept your request when they have guarantees that you will repay. nowadays, the banking institutions have very strict directives in the granting of the credits, in addition to the legal provisions (to be major and not to appear on the black listing of the National Bank of Belgium).
To access a personal loan even if you are unemployed, the ideal would be to present a contribution of 10% of the amount you ask the bank. But with the unemployment benefit that often does not exceed USD 1,400, you are already struggling to get by with the rent and the daily expenses. To remedy this, lean for a personal loan with downstream, asking for the help of a co-borrower who will vouch for your credit. of course, this computer scientist must respect the conditions imposed by the bank and will not be filed by the National Bank of Belgium.
Conditions for granting the unemployed personal loan
If after having tried all the above solutions, do you still refuse your request? We recommend you go through a broker or credit intermediary who can support and make your application even more scrupulous than it already was. It is sometimes mandatory to have the needs of the service of a professional in the matter. It can guide you to the best possible solutions for this type of financing. This will increase your chances of benefiting from your request.
And if you want to use another loan option for the unemployed, you will always be able to redirect to the offers of credit institutions by allowing a deposit given by a person around you and reassure the bank that can always withdraw money from of the individual who has been a guarantor. It is also possible to opt for an unemployment credit with a real guarantee. in this case, the loan will take the form of an assigned credit and the bank will be able to extract the purchased property if there is ever a problem with the repayment.
Some credits for the unemployed made talk about them badly, others for good. Be careful to choose your personal credit. Revolving loans have been more convenient for creditors than debtors, but micro-credit will have better notoriety (as unemployed credit). Also pay attention to your debt ratio before making a loan. you have to pay attention to your financial situation to avoid being stuck in the bank of France and become a banking ban.
Applying for credit with a bank can be a real problem. The vast majority of banks require a lot of paperwork to check the creditworthiness of their clients, including recent payroll records and statements. An unemployed person will have to present even more guarantees to acquire a credit, in order to reassure the lending group.
Several alternatives make it easier for an unemployed person to borrow.
Being in a situation of having to take a credit free of all payslips may not appear obvious. It is really hard to have a favorable response for granting credit in traditional banking institutions. However, there are solutions to acquire financing. Not having a payroll record does not mean not having no access to credit.
Here’s another piece of advice: If you have to borrow money while you’re out of work, negotiate with your lender. If your negotiations fail, contact a broker or, by nature, a social worker. Give him the proof that the school did not accept your request. Communicate also the file which defines your situation of unemployed person. Your employee will take the steps for you. He will be able to do what.