How do you qualify for unsecured personal loans?
Preparation is vital when you want to qualify for these personal loans. However, feel free to contact us since you have approached Myfinancialloans. We are flexible in our policies and want to help every individual.
Here are the factors to consider:
Past financial performance: Other lenders may take an interest in your credit history and finalise your loan approval chances based on it. We also look at your past financial performance, but it will not be the sole criterion. We vastly prefer your current financial performance.
Current credit score: We would like to know your current credit score rather than the past one. However, if you do not submit your credit report, we have no objection since we prefer your monthly income and its affordability to pay back the loan.
Full-time or Part-time income: Mainstream lenders or other loan firms may prefer your full-time income to grant you a loan. We, on the other hand, can accept your part-time income too. It means unsecured loans for the unemployed despite bad credit can be a possibility.
Debt-to-income ratio: If you provide relevant documents describing your debt-to-income ratio, then it will make your loan application more attractive. Make sure you save time preparing papers, especially if living on a financial urgency.