The personal loan application is subject to a certain formality in order to ensure that the financial situation of the borrower will allow him to meet the monthly repayment payments.
Personal loan: unallocated consumer credit
The purpose of the personal loan is to finance an expense that is not related to a real estate transaction or the purchase of a car. It is characterized by the fact that it is unallocated , that is to say it does not finance a specific expenditure . Thus, the borrower is free to use the money to finance the project of his choice: a wedding loan, a travel loan, a loan for high-tech equipment, etc. It can in particular be used to resolve a one-off cash flow problem. In all cases, no proof is required regarding the use of funds: information can be requested by the broker or banker, but there is no obligation to provide it!
Supporting documents for a personal loan
The individual applying for a personal loan creates a file whose objective is to determine the most relevant amounts and financing methods taking into account the financial situation of the borrower.
The supporting documents for personal loans therefore relate to the civil status , resources and assets of the applicant.
Thus, lending organizations generally request as supporting documents:
photocopy of identity document;
proof of address (electricity, gas, water bill less than 6 months old or a recent rent receipt;
a bank or postal identity statement (RIB);
for employees, a photocopy of the last pay slips (generally the last 3);
for people carrying out self-employed activities and retirees, a photocopy of the latest tax notices;
for owners, a photocopy of the property tax;
amortization tables for loans already in progress.
On the other hand, the personal loan is not allocated to a specific expense, the borrower does not have to provide supporting documents for the personal loan such as a quote or an order form concerning the use he will make of the borrowed money. .
The credit organization will analyze, using the documents provided, the borrower’s solvency and repayment capacity. This measure helps protect the individual by minimizing the risk of over-indebtedness.
Can we refuse to provide a document?
Unlike the tax administration, credit organizations cannot force an individual to provide a document relating to their financial or asset situation. However, refusal to provide a document will likely result in a rejection of the personal loan application . It must be kept in mind that lending institutions have the obligation to check the solvency of their client before granting their personal credit request.
Provision of false documents
Producing a falsified document to support a personal loan application is a criminal offense punishable by law. Providing documents is a protective measure for the individual borrower.
Before each credit application, it is important to carry out an online personal loan simulation, free and without obligation, and to ensure your repayment capacity. You can then use our personal loan comparator with complete peace of mind to obtain the best personal loan rate adapted to your profile and your situation.