The borrower who applies for a payday loan online must provide supporting documents, to allow the lending institution to check whether the situation of the borrower is in accordance with the information entered.
The law requires the lender to verify that the person applying for a payday loan is creditworthy. These checks protect the borrower against any risk of over-indebtedness. They also protect the lending institution against non-repayment by the borrower.
When requesting a payday loan online, the lending institution also checks the national bank of France file. This file allows knowing if the borrower has known payment incidents during previous credits.
Online payday loan: IDENTITY JUSTIFICATIONS
The borrower must provide a front/back photocopy of the identity card or passport. This is to ensure that he is the person he claims to be, in order to avoid possible identity theft. If there is a co-borrower (in the case of a couple for example), a photocopy of the co-signers identity card or passport is also necessary. If the borrower is not of French nationality, a resident card or a residence card can serve as proof of identity.
Online payday loan: HOME JUSTIFICATIONS
Several documents can be used as proof of address:
- a copy of a recent landline invoice (less than 6 months)
- an electricity or gas receipt
- the mobile phone bill is also accepted if it is a subscription.
This proof allows the lender to verify that the borrower lives at the address he provided when applying for the loan online. In the case of accommodation by a third party, a declaration on the honor of the person hosting the borrower and proof of address will be required. In addition, a tenant must provide the last 3 rent receipts of less than 3 months. For the owner, it is the title deed and/or the property tax which must be inserted in the file.
Online payday loan: BANKING JUSTIFICATIVES
The borrower must compile his last 3 bank account statements. These elements provide the lending institution with a vision for managing its accounts. The bank account statement (RIB) is essential for the lending institution. It allows you to set up direct debits linked to payday loan maturities.
The canceled check is not always requested. It is an unfilled bank check on which the borrower is marked “canceled”. The lender must check the lender’s history: for example, if it is not prohibited from banking. Providing a canceled check proves that he has a means of payment.
Online payday loan: REVENUE JUSTIFICATIVES
Employees will provide their last three payslips, retirees their last retirement slip, liberal professions and tradesmen their last CERFA package. All borrowers must also attach their last tax assessment. If applicable, the pension and/or family benefits reports must also be attached.
If there is a co-borrower, he will also have to transmit the elements of this latter to the lending institution. When applying for a loan online, these supporting documents are essential for the lender to measure the borrower’s creditworthiness: they are used to verify that the income announced is real.
AFFECTED payday loan
- For a car loan: the applicant must provide the purchase order for the new vehicle. In the case of a second-hand vehicle, it will suffice to transmit a photocopy of the unbroken registration card.
- For a work credit: the craftsman’s quite dated and signed.
- For other projects: a quote and/or an order form mentioning the product or service.
OTHER SUPPORTING DOCUMENTS WHEN APPLYING FOR ONLINE LOANS
Following an Online payday loan request, the lending organization may need additional supporting documents. Most often he will ask:
- A copy of the employment contract (if the borrower recently changed jobs);
- A copy of the current consumer credit amortization schedule;
- A divorce decree (to ensure that there are no joint and several spouses).
You can also send any supporting documents that seem relevant to your situation.