If you are on a list of defaults, you may have difficulty getting financing. However, There are no direct payday lenders who will not carry out a same day credit check on the borrower.
Characteristics of personal loans with ASNEF
Being registered in these files will make it difficult for us to access financing since banks and many companies do not lend money to people who have unpaid debts. Fortunately, there are some private lenders that grant personal loans with ASNEF. Currently, the most popular personal loans with ASNEF without a mortgage are mini-credits, as they are products that allow us to get extra money in a matter of minutes and with little paperwork. However, as not all mini-loan companies accept the applications of those registered with ASNEF, before processing our request we must check whether the company we are going to offer this advantage or not.
On the other hand, we must bear in mind that we will be required to meet two additional requirements in order to obtain the financing we want by being registered with ASNEF: that our debts do not exceed a specific amount and that the non-payment is not of a financial nature. These types of credits are NOT more expensive than the rest of mini-credits since they simply offer it as an additional advantage and not as an extra service.
The general price of personal loans with ASNEF
Personal loans with ASNEF and without guarantees are not more expensive than other types of loans because they are accessible products for people with outstanding debts. The private equity financial companies assume a greater risk when lending to people with defaults, but that does not translate into an increase in the interest applied or in the collection of more commissions. For these companies to grant credits to enrolled in ASNEF is just one more of the advantages they offer, so their products have the same price for both applicants with outstanding debts and for those who have a good payment history.
In the case of mini-loans with ASNEF (the most demanded products of this type), an average interest rate of around 1.1% per day is applied and no commissions or linking expenses are charged. Your APR is usually higher than normal, but because they are reimbursed in a month normally, the annual equivalent rate is not the best tool to calculate your price. It is more useful to look at the daily or monthly interest or to take as a reference what each company charges for lending 100 euros to be repaid in 30 days.
General requirements in personal loans with ASNEF
As with all online personal loans granted by private equity companies not supervised by the BdE, personal loans with ASNEF are easier to obtain than bank products, since these companies require much more flexible access requirements. The conditions that must be met in these cases may vary, but in general, all lenders will ask us for the following:
- Reside in Spain: we must show that we live permanently in national territory and for that, we will have to present a DNI, NIE or passport that accredits it.
- Having more than 18 years: by law, we will be asked to be of legal age, although in some companies we will be required to be over 21 or, in some cases, 25 years.
- Have a stable and regular income: as a general rule, they ask for a payroll, although the unemployment benefit, a pension, a subsidy, etc. also count as stable and sufficient income.
These requirements are common to all entities, although depending on the personal loan company with ASNEF that we use, these may vary. To verify that we comply with these requirements, the entities will make use of the analysis they make of the data of the application form and of the documents that we send.
Extra conditions to contract loans with ASNEF
In addition to these conditions, certain companies will also demand that our volume of debt be not excessive, as it is something that could cause us problems to repay the money. Let’s see in more detail what are the additional requirements that some companies require to access one of their personal loans with ASNEF and payroll :
- That the default does not exceed 1,000 euros, although some of these companies put the limit on other amounts of debt that may be higher or lower. The limit of some personal loan companies with ASNEF is around 200 euros.
- That does not have any relationship with financial entities or, at least, banks. That is, it can not come from credit cards, discovered in accounts or personal bank loans. Entities will accept (usually) debts from supply companies such as the Internet, water, electricity …
If we do not fulfill these two conditions, our chances of obtaining personal financing having defaults will be much reduced, since many of the companies that offer personal loans with ASNEF will not approve our request. In these cases, it is likely that we have to resort to other products such as mortgage loans or pledges.
Documents to enjoy loans with defaults
The process to apply for personal loans with ASNEF and without housing is very simple and requires little formality, since all the procedures have to be done online. That’s why you do not have to send a lot of documentation because companies need less information than banks to study applications. Let’s see what are the documents that we will normally have to deliver when we request personal loans with ASNEF:
- Identity document: DNI, NIE or passport that certifies that we are national residents and that we are of legal age.
- Proof of income, a document certifying that we receive such income on a regular basis, lengthened in time and that we have a document that can verify it.
- Bank statement. With it, the lender will be able to know our monthly income and expenses to know if we have the financial capacity to face the credit monthly payments.
With these documents, the entity can verify that we comply with the requirements required to access the credit and confirm that we are ourselves, to avoid the fraudulent use of our data. The documentation is usually sent or attached to the online application, through an email or by going to the office of the entity where we request the personal loan.
The typical form of personal loans with ASNEF
As we have said, fast personal loans are nothing more than online credits that people with outstanding debts can also hire. Therefore, the application and hiring process is practically the same as that which must be followed to obtain any other quick loan and the form to be filled usually contains identical fields. The information that normally has to be contributed to request these credits is:
- Personal data: identity document number, name, surname, and date of birth.
- Economic profile: payroll, fixed expenses, outstanding loans, account number, etcetera.
- Labor situation: type of contract, seniority in the company, rank …
- Contact information: telephone, current address and email.
After providing these basic data, the company will analyze our request and assess whether we meet all the necessary requirements to access one of your personal loans with ASNEF. Thanks to the application of new technologies we can obtain a response from the analysis in a few. In addition to the form data, the entity will also review the documents that we send and different databases such as ASNEF or CIRBE.
How is the process of requesting loans for defaulters
Virtually all companies that offer personal loans with ASNEF operate exclusively online. The procedure to be followed to request one of these credits may vary depending on the company that we go to, although in most cases we will simply have to take the following steps to process our application:
- Indicate the term and the amount of the personal credit with ASNEF that we want to request. Sometimes they could also ask us for the purpose, although it is not common in mini-credits.
- Fill in the application form with our personal and financial information so that the company analyzes our profile and pre-approves or rejects our request. By sending it we will get an answer instantly.
- Once the request is pre-approved, the entity will ask us to send the documents to verify our identity and that the information entered in the form is correct.
- Once the personal loan with ASNEF has been approved, the entity will send the client the contract that they must read carefully and sign if they agree with all the clauses that appear.
- When we have signed the contract, we will receive the money in the account that we have indicated in the application process. If the lender’s account is in the same bank as ours, the money will be available in just 15 minutes.
Before deciding to apply for personal loans without links, we must be completely sure of being able to reimburse them. If for any reason we can not pay the fees, it is best that we contact the entity and request an extension of the term or negotiate a payment schedule to avoid being sanctioned. It is important to do so before the end of the repayment period so that it does not show as a non-payment.
Purposes of the mini credits with ASNEF
As these products are no more than low-cost urgent personal loans, they are usually requested to resolve small incidentals or to settle outstanding debts and thus leave the delinquency files. Below, we list the most common uses of personal loans with ASNEF and explain in which situations it is better not to ask for them:
- Solving domestic unforeseen problems: a damaged washing machine, leaving the keys inside the house or having to call an electrician are problems that we can rarely predict. If these unforeseen events come at the worst time, with personal loans with ASNEF we can obtain the extra liquidity we need and return it the following month.
- Avoid an overdraft: if we foresee that we can remain negative in our bank account, a mini loan can get us up to seven times cheaper than a bank overdraft plus all the commissions that entail. In addition, to be able to count on them in only 15 minutes, we will avoid the red numbers in our bank.
- Settle outstanding debts: personal loans with ASNEF can also be used to settle the debts for which we are inscribed in a list of defaulters. Once the debt is settled, the file will erase our data and we will be able to access all the credits, both banking and private.
In short, this type of personal loans will be a good alternative provided they are punctual and always knowing that we can deal with your refund without problems. If we hire them too often, we could have problems to make the reimbursement, which would make us fall into a very dangerous over-indebtedness.
When I get personal loans with ASNEF
The process of requesting and contracting personal loans with ASNEF is as quick as it is quick, so it will only take a few minutes to process our request and, if approved, to receive the money. However, there are some factors that can delay the granting time and that can cause the credit entry with ASNEF to take up to two business days to be made.
This is due to the particularity of the transfers of money between accounts of different banks. Thus, transfers between accounts of the same entity are instantaneous, but between accounts of different banks may take even several days. As mini-credits use accounts in one or more banks to transfer the money to their customers, we must go to a lender who has an account in our bank if we want to get the money instantly.
In the free guide “When will the money from your mini-credit come?” elaborated by HelpMyCash we will find out which banks each lender works with and we will discover what the speed of money transfers depends on. In addition, we can know the tricks to make the credit reach our account in minutes and what companies we must turn to according to the bank in which we have our associated checking account so that the financing we need does not take another minute.