Proof of income is needed everywhere these days. When buying in installments in brick-and-mortar stores, the seller usually wants to see proof of income before concluding an installment contract. Exceptions prove the rule. Sometimes it is enough to just show a Maestro card. But that is not enough for the banks, a loan without proof of income is not granted.
What to do without proof of income?
Definitely no bank grants a loan without having checked the income situation. Proof of income does not necessarily have to consist of a pay slip. The self-employed and freelancers have no such thing. You must submit balance sheets or profit and loss accounts. These are also considered proof of income. Without income and proof of it, a request for a loan without proof of income is completely meaningless.
The notices from the employment offices or social welfare offices do not count as proof of income because this is not an income. This income cannot be seized, which is why the banks do not lend to unemployed people. The necessary security is simply missing here.
What counts as proof of income?
In addition to those already mentioned, there are also other proof of income. Artists and other freelancers have to prepare a profit and loss account for the tax office anyway. This also applies to the banks as proof of ownership. If a consumer now lives from renting or leasing his private or commercial property, the account statement counts as proof of ownership. As a rule, money goes into the account every month and this income from rentals and leases is corresponding income.
Why is income so important?
The income can be seized within the statutory limit. An attachment is the creditor’s last resort to getting his money. However, this is the absolute emergency, which of course is also reported to the Credit Bureau. Anyone who has such an entry will not get more money lent anywhere.