Loan between individuals - Borrow money without banks

You can get a loan without going through a bank. It has become a popular formula among a section of the population. It is a recourse for people registered in the FICP of the Bank of United States for banking incidence, but also for people who simply wish to obtain credit to individuals. An individual borrows money from an individual. The system called social credit or community credit or p2p credit is adopted and is now called PAP credit or individual to individual credit . This formula has taken root among low-income households. It is a substitute for family loans which are based on kinship ties.

The use of credit between individuals

Personal credit works on the basis of trust and profitability. It is especially aimed at people who are socially, but temporarily fragile because of the loss of a job, of a temporary job and who does not allow access to the traditional banking circuit. The formula allows you to benefit from a small credit generally not exceeding 15,000 US dollars. And sometimes it requires moral or financial backing from a third person. The borrower launches a loan request online, clearly mentioning his identity, his address, but not necessarily the proof of resources and the destination of the requested funds. The lender studies his file. He can ask him for additional information. The two parties discuss the repayment terms and the rate which can vary from 1% to 20%. A loan contract will be established between the two parties if an agreement is reached. An IOU is drawn up and validated together for the loan between individuals over US $ 1,500. This document is used in the event of a dispute with the court.

loan money between private

Credit to individuals: A regulated loan

This operation can be done through certain specialized organizations which have, for this purpose, a specialized site which sometimes spurs the applicant towards other loans such as crowdfunding or participatory credit. The best known of these platforms being younited credit, formerly loan of union, a credit organization which specializes in granting loans to individuals The transaction is delicate because it does not rule out abuse. Community credit is governed by law according to the principles that govern credit contracts. Loan repayments greater than US $ 760 are subject to the rules of the mandatory tax declaration in which the terms of repayment appear. It is especially recommended that both parties submit to tax formalities. The borrower is required to declare to the tax service the existence of the loan and its interest rate. The lender must enter the interest received in this loan in his annual income statement.

Other consumer credits to enjoy

Unemployed Credit

In the United States, there is no law prohibiting unemployed people from taking out bank loans. Indeed, an unemployed person can easily borrow money, especially if the funds can make it easier for him to find a job or to do paid activities. The easiest way is to go through online banking organizations.

Interim credit

An interim loan has roughly the same terms as a CDD loan or a loan for employees who do not yet have a fixed-term contract. Since a temporary employee is likely to change jobs more often, they are still allowed to borrow a reasonable amount of money for short periods.

Student loan

The student loan is guaranteed by the state, you do not need to have a minimum of income or a deposit, provided of course that you are enrolled in an institution. It is a zero rate loan which aims to finance studies or to pay training costs. Unlike conventional loans, the terms can vary from 2 to 6 years.

Civil servant credit

Like all borrowers, civil servants can benefit from a loan. Whether they are contractors, interns or holders; there is a loan specially dedicated to civil servants with very advantageous conditions. Thus, it is possible for an official to obtain the best rate for his mortgage repurchase or even for the consolidation of his loans.

Bank prohibited credit

The repurchase of credit is an interesting option for banking prohibitions. This consists of consolidating all your credits so that you only have to pay a monthly payment. This precept allows you to obtain more time to repay and a reduced monthly payment. As a result, your purchasing power improves and you can live more comfortably.

Senior credit

Like the working population, seniors also have the right to credit. Even if the banks consider that the risks of default are great, there are formulas adapted to the elderly. The conditions are a few different due to the situations of disability, death or incapacity for work; but they do exist in the credit market.

Auto-entrepreneur credit

As a self-entrepreneur, borrowing can be a real obstacle course with banks, but be aware that it is possible to have a mortgage. The documents and documents to be provided are more numerous than that of a permanent employee such as the last tax notices, bank account statements, sales agreements and also borrower insurance.

A loan commits you and must be repaid. Check your repayment capacity before you commit