Would you like to know the conditions of acceptance to obtain a payday loan ? We answer all your questions.

Before granting you a payday loan, the credit institutions check that you fulfill their terms of acceptance. The most common acceptance condition is your repayment capabilities. To do this, you must demonstrate using various documents and supporting documents that you have the necessary repayment capabilities to pay your monthly payments serenely.

Available income

The first step is to calculate your disposable income: wages, retirement, rental income, dividends from your company, compensatory allowance, unemployment benefits, allowances, etc.

You can thus fulfill the conditions of acceptance, even if you are self-employed or looking for a job. Typically, the credit agency asks for more proof to verify that your repayment capabilities will be stable over the long term.

Your personal expenses

Your personal expenses

In a second step, your expenses are deducted from your disposable income in order to obtain your monthly repayment capacities. These capabilities must be sufficient to pay the monthly payments of your payday loan while allowing you to cope with the expenses and small unforeseen of everyday life.

As “expenses”, it is thus taken into account your rent or monthly payments of your mortgage, your energy costs, taxes, alimony, etc. To calculate them, your personal situation is also taken into account: family status, number of children, status of owner or tenant, etc.

Once the data is reconciled, the credit agencies will know your repayment capabilities accurately and will be able to assess whether or not your file matches their terms of acceptance.

Also find our other files on the conditions of acceptance of a payday loan:

  • Can I get a payday loan without proof?
  • What about payday loan buyback?