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Before you approve a personal loan, credit institutions check that your acceptance conditions are met. The most common condition for acceptance is the repayment option. To do this you must use various documents and supporting documents to show that you have the option of receiving a small number of payments each month.

 

 

 

Available income

 

The first step is to calculate the disposable income: salary, retirement, rent, dividend payout of your company, compensation, unemployment benefits, fees, etc.

 

So you can meet the acceptance criteria even if you are self-employed or looking for a job. Usually, the credit agency needs additional evidence to check if your repayment capabilities are stable over the long term.

 

 

Your personal expenses

 

In the second step, the costs are deducted from the disposable income in order to receive the monthly repayment capacity. These skills must be sufficient to pay the monthly payments of your personal loan, so you can handle costs and little unforeseen everyday life.

 

"Costs" include the rent or monthly payment of your mortgage, energy costs (EDF, etc.), taxes, maintenance costs, etc. When calculating this information, your personal situation is considered: marital status, number of children, owner status or tenant etc.

 

Once the data is matched, the credit agencies will know exactly what your repayment options will be and will be able to judge if your file meets the acceptance criteria.