Naturally, it is wonderful when there are own funds for unplanned expenses or financial savings of friends “come” to the rescue. However, as practice shows, in most cases people turn for help to banking institutions (the reason is simple: friends also do not have the necessary amount of money for a loan) in the hope of quickly issuing a profitable loan program to solve their financial problems.
Pitfalls of lending money in different places
It is not a secret for anyone that it is more than realistic to issue cash loan funds in the Philippines if the borrower meets the requirements of the bank. Typically, such a list of requirements contains:
- age restrictions (it is possible that the age range may differ for men and women),
- the presence of mandatory documents, such as a passport, certificate of identification number, certificate of income from work or government agencies and so on.
A separate item in the long list of banking conditions necessarily includes the phrase “credit history” or, alternatively, “positive credit history”.
Is loan without history possible?
The question arises: if a person first applies for financial assistance to a bank, is it possible to get a loan without a credit history? After all, whatever one may say, financial institutions are reinsured by issuing loan funds to the borrower for a certain period “on parole”.
Let’s still understand in what cases and under what conditions you can get a loan without checking the credit history. It should be noted that the possibility of using borrowed funds with minimal effort in the form of collecting documents and submitting personal data to a financial institution is unlikely to succeed.
The difference will be noticeable only if you decide to cooperate with a large bank and borrow a large amount of money. In addition to these mandatory documents, you will most likely be asked to provide additional references and information from various institutions. In this case, the item “credit without checking credit history” cannot be circumvented. In addition, if there is no credit history, most likely the borrowed funds will not give you or will give you on more stringent conditions.
There is another option: bypassing / calling the banks in order to clarify whether it is possible to issue a loan without checking the credit history in a particular financial institution, and at the same time to clarify the list of necessary documents. Is it acceptable to decide this way of searching for everyone personally? In any case, even a negative result in the form of “we do not give out money in debt without a credit history” is also a result.
Credit without verification is real
If your situation approximately corresponds to the following description: “they don’t give me a loan without a credit history, but I don’t have it because I never made a loan” or something like that – do not despair. There is an exit!
On the Internet for quite a long time, the online lending services in the Philippines have been successfully operating. It is through this service that it is quite realistic to issue borrowed money without checking the credit history. True, this does not mean at all that no documents are required. However, the terms of the loan are different from similar portals, ease of accessibility and ease of use of the system.
Money without a credit history check can be issued by citizens of the Philippines aged 18 to 75 years after passing a quick registration. It should be noted that for the smooth processing of a loan without a credit history, it is necessary during registration to correctly indicate the main passport data, the identification code number, and the details of an active bank card.