Do you want to get a payday loan, but you do not have a contract of employment? Is it possible to borrow money from a bank or a payday loan company in such a situation? If you are also in this situation, check the answer with us!
Today, a contract of employment is not so easy to get. Employers prefer cheaper forms of employment for them, for example a contract for a work or a contract of mandate. However, they are not very favorable for employees who can not be subject to the provisions of the Labor Code.
When we do not work on a contract of employment, we may also have difficulty obtaining a payday loan or a payday loan. This is mainly due to the fact that for employers the contract of employment is a more secure form of income – especially when it is a contract concluded for an indefinite period.
Why do lenders not like civil law contracts?
Many Poles work on so-called civil law contracts – a contract for a work and a contract of mandate. These are contracts that are concluded for a specified period of time or until the performance of the work ordered. Therefore, they do not bind the employee to the employer on a long-term basis. This means that the employee often does not know if he will receive another contract. In addition, the employer can release him properly in one day.
As a result, banks and many payday loan institutions do not like civil law contracts. Of course, this does not mean that it is not possible to get a payday loan at all. However, certain requirements have to be met.
What payday loan can we get without a contract of employment?
First of all, we have cash payday loans available for us, which we can use for any purpose. These are payday loans offered by banks as well as by non-bank companies. We have at our disposal quick payday payday loans , which we usually make for one month. Banking and non-banking we can also take installment payday loans, which we pay in monthly or weekly installments.
It looks worse to him when it comes to payday loans and payday loans for quite large sums, for example car payday loans, mortgages. Then, not every institution will be able to offer us money for expenses. You may need to provide additional security measures, such as a surety.
What requirements do we have to meet to get a payday loan without a contract of employment?
It’s best to check them out on the website. In the case of smaller amounts, we usually do not have to provide any documents – just a statement about our income. At higher sums, a bank or a non-banking institution may request our contracts, from the account or the last PIT document, which we submitted to the tax office.
We should also remember that in the case of civil law contracts, the incomes not always earned equal the creditworthiness. Often, banks and other institutions only take into account half of their income, so creditworthiness will be lower.
In summary, it is possible to get a payday loan or a payday loan without an employment contract, but we will not get it in any institution. What’s more, we may be asked for additional security or our credit rating will be calculated as lower.