The classic proof of work consists of a certificate from the employer that the applicant has a permanent job without notice. Since employees do not like to inform their boss about a planned borrowing, financial institutions recognize the employment contract or the pay slip as proof of work. Self-employed persons can provide a copy of the trade certificate as proof of work, the last tax assessment is available to freelancers.

Classic lending without proof of work

Classic lending without proof of work

The credit without proof of work is not a completely new loan offer, but is common in some cases. Mail order companies regularly grant installment payments as a loan option without submitting proof of work if the order amount is not unusually high. Some shipping companies require a down payment from first-time buyers, the performance of which they consider as proof of the good creditworthiness of the buyer. A comparable procedure is possible for car loans, so that the buyer receives the earmarked loan without proof of work if he pays a large part of the vehicle price as a down payment. A loan granted to a pensioner is in fact also a loan without proof of work, since it draws the pension instead of working income.

When applying for a credit card, not all issuers require proof of work or earnings. Rather, it is widespread to first grant a limited amount of credit for a newly issued card and only to request an income receipt if the cardholder requests an increase. Dedicated promotional loans such as student loans are paid out by Intrasavings Bank without proof of work, since the current income but the earnings that can be earned after completing your studies serve as loan security.

Take consumer credit for free disposal without proof of work

Take consumer credit for free disposal without proof of work

A large consumer bank offers new customers a low-level credit line without an income check and without submitting proof of employment. Other ways to get a loan without proof of work are instant loans. These are issued by some financial institutions without proof of income and without proof of work, since the promised loan payment within two bank working days does not enable the submitted documents to be carefully checked anyway.

For the borrower, a realistic calculation of the income to be achieved and thus of the possible credit installments must be carried out, especially for a loan without proof of work and without proof of income. Of course, borrowers must honestly answer questions asked about the job and income in the loan application, even if the financial institution does not provide the relevant evidence.