How to get a personal loan?
Before obtaining a personal loan, certain legal conditions imposed by credit institutions must be met. While some obligations are legal and general, others remain specific to the type of credit and to the creditor institution.
The legal conditions for taking out a loan
Common to all credit organizations, there are legal conditions to be met in order to obtain a loan, whatever its type.
As soon as it receives a request, the lending institution must first check the borrower's solvency, as well as its registration by the Banque de France: The applicant must not be registered with the FICP - Repayment incidents file to the Credit of individuals - or to the FCC, the central check file. Centralized by the Banque de France, these files list payment incidents on loans taken out by individuals for non-professional needs, as well as banking prohibitions.
For revolving credit, the organization will need to recheck creditworthiness every three years.
You must also be of legal age, and without any obligation of nationality, you must be a resident of the national territory for a loan taken out in France.
Financial conditions and criteria
Apart from the legal conditions, each bank establishes its own credit conditions and its own ceilings: To subscribe to a personal loan from Finance Studio, the request must be greater than € 1,500 and less than € 75,000.
On the other hand, to avoid situations of over-indebtedness, the creditor organization assesses the personal situation of the applicant using a few financial criteria.
It first calculates the disposable income, i.e. salary, company dividends, pensions, rental income, unemployment benefits, allowances and compensatory benefits, etc.
The available income then applies the assessment of the monthly repayment capacity. This must be able to be sufficient to repay the loan without impacting the needs and expenses of daily life. For the majority of loans, the average debt ratio is considered to be around 33%.
The repayment capacity is estimated by deducting the charges from the income. They include energy costs, real estate rents and monthly payments real estate loans, taxes and duties ... Everything also takes into account the family and personal situation: number of children in the home, pensions to be paid, tenant or owner, employee or self-employed ...
Online subscription, documents to provide: the procedure for taking out a loan
To obtain a personal loan, start with an online simulation, directly on our site. Amount, monthly payment rate , repayment period, debt ratio ... you will be able to find the credit that suits you.
Once you have found the ideal solution, validate the simulation, and you will instantly receive an answer in principle. We then send you a contract, which you can complete and send back to us with the supporting documents that will constitute your file.
You then have 14 days to retract: your funds will then be paid to you.
Also check on how settle your payday loans with us.