What are the documents required for a secured loan?

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In the case of a loan with a property guarantee, the main change is in relation to the documents of the property. Each financial institution establishes its own verification processes, which may change the list of requested information. The fact that the property is paid off or not also changes this list, as it will involve the bank in which it is financed.

A low-score loan with a low-score home guarantee will likely require the following documents in addition to the above:

  • Birth certificate if the applicant is single;
  • Marriage certificate if the applicant is married;
  • Antenuptial Agreement Registration Certificate if the applicant is in a marriage in universal or total community of property;
  • Marriage certificate with annotation of the current situation if the applicant is separated, divorced or widowed;
  • Property registration;
  • IPTU with footage of the property;
  • Negative Declaration of Condominium Debts.

What are the documents required for a secured vehicle loan?

Now, if you decide to take out a loan with a vehicle guarantee, in addition to your personal documentation, you will need to inform the Vehicle’s National Registration Certificate (CRV) and the Documento Único de Transfer (DUT). Remember that the chosen financial institution may request other data from the asset. 

What are the documents required for a cell phone guarantee loan?

On the other hand, a secured loan that is simpler in terms of documentation is one that involves cell phones. Most institutions only require personal documents and data to prove information about the cell phone’s device and chip. 

What are the documents required for a payroll loan?

The payroll loan also has a simpler list of documents. Here, it is worth paying more attention to the fact that the employer must have an active agreement with the financial institution. Thus, she can receive the deduction of installments on the payroll. This, of course, in the case of workers who want a payroll loan. 

You can find out about this by talking to your company’s human resources department. In the case of retirees and pensioners, it is worth checking with the desired banks. In relation to documents, the paycheck, payslip or extract of the benefit will be of great relevance. 

It is important to deliver the most current versions. In addition, some institutions may ask for vouchers of more than one month. The most common is the request for the previous three months.

What documents do I need to apply for an urgent online loan with a low score?

As stated above, in all these cases, a person with a low score will need to present the same documentation as a person with a high score. What can change are the data regarding proof of income and other information that help the bank to verify risks regarding default and the applicant’s ability to pay the borrowed money. 

Is it possible to borrow for MEI with a low score?

Are you an individual microentrepreneur (MEI) and your credit score as an individual is low? Don’t worry! It is also possible to borrow for MEI with a low score. 

With the exception of the payroll loan, the microentrepreneur in this situation can try to get all the types of credit mentioned above. 

Of course, just like an individual with a low score at the credit bureaus, the MEI may find it difficult to look for institutions that offer proposals under these conditions. In this sense, the loan secured by assets remains a good option. 

MEI can apply using the property registered in its name as an individual and still use its earnings as an entrepreneur to prove income. Another possibility given by some institutions is to use both their earnings as an individual and the earnings of a legal entity.  

How does the MEI prove income?

The MEI has different ways of proving your income. Here, again, it is worth paying attention to what the banking institution will accept as proof. For some, the bank statement is enough. For others, it will be necessary to issue more “official” documents. Check out two of the main ones: 

  • Income tax declaration : in this form of proof, you can send both the individual and corporate income tax (Annual Declaration of Simples Nacional – Individual Microentrepreneur – DASN MEI); 
  • Decorate : this acronym corresponds to the Evidence of Income Perception, a document issued only by accountants. The MEI is not obliged to hire this professional, but it can resort to him in specific cases such as the issuance of Decore.

Loan for self-employed with low score

These same considerations apply to a low-score self-employed person looking for a maturity loan. This category is also more likely to find offers along with secured credit. 

Just like the individual microentrepreneur, the self-employed person can use different sources of income (individual or legal entity) to compose their income. The forms of proof are very similar to those of the MEI, with the exception of the DASN MEI if it does not have a CNPJ registered in this category.