There are different ways to borrow money, even if you do not want or if you can not go through the traditional banking system for payday loans online no credit check instant approval.
If to borrow money most people tend to solicit credit institutions, there are more and more alternative ways to finance all its projects. Loans between individuals, for example, are becoming more common, and crowdfunding can finance different investments. Finally, microcredit can be suitable for banking at the Banque de France or for people who do not have access to conventional loans.
CREDIT BETWEEN INDIVIDUALS, ANOTHER WAY TO BORROW MONEY
Different loan solutions between individuals
There are several ways to borrow money between individuals :
You may know someone around you who could lend you the money you need, and in that case you can arrange directly with her. It will still be necessary to respect a certain formalism, to establish a recognition of debts by notarial act or under private seal and to warn the service of the taxes of which the lender depends.
Second solution, if you do not know anyone who can lend you: it will be necessary to go through either an ad site or a platform that manages loans between individuals. In the first case, you do not have any guarantee in case of problem … Better then to opt for a site which offers you a regulated framework.
Respect the rules to borrow money from an individual
Whether the credits generate interest or not, whether the person with whom the loan is made is from the same family or not, it is essential to keep track of the transaction. The terms of the credit must be indicated to the tax authorities: the borrower will take care to declare the amount, the date, the duration, the credit rate. It can be attached to the loan declaration provided for in the 2062 form, which will be sent at the same time as the income tax return . It is printed 2561 which will have to be filled if the credit is remunerated by interest.
All loans do not have to be declared, this obligation only concerns credits of an amount greater than or equal to 760 €. Note that if several loans are subscribed between the same two people for a total of more than 760 €, it is necessary to establish a declaration, even if each individual loan relates to a capital less than this sum.
It is the parties who define between them what is the interest rate, the only constraint is not to exceed the rate of wear.
Lender or borrower can declare the credit, even though it is usually the borrower who completes this formality. The original of the deed must then be deposited with the tax office.
Formalities between lender and borrower
The finance agreement may be drawn up by a notary or private party, at the convenience of the persons concerned. If you opt for a private deed , you should know that the lender will keep the original document and you will need to provide a copy to the borrower.
If we formalize the credit with a debt recognition, it is the same thing: the lender will keep the original and the borrower will receive a copy. For this document to be valid, the acknowledgment of debts must be in writing, dated, signed by the borrower and the amount to which the credit relates must be indicated in figures and letters.
What are the consequences of failing to declare a credit between individuals?
In the case of a tax audit, if no credit agreement has been brought to the attention of the tax authorities, the refund of the credit can be considered as a donation or as another type of taxable income. Even if in practice few people are worried in case of forgetfulness, it is better to take the time to accomplish this very simple and very fast formality.
CROWDFUNDING OR CROWDFUNDING
If you have a project that is important to you and you think that its realization may eventually benefit other people, why not opt for crowdfunding or crowdfunding? The principle is simple: you choose one of the many sites dedicated to this type of financing, you describe in detail your project and you set the counterparts to send to Internet users who finance your project according to the amount they give you .
An excellent solution that can finance companies and associations and create a link with its future customers! This solution will be reserved for associative or value-creating projects for society, as personal projects are unlikely to be funded if there is no consideration for contributors.
BORROW MONEY THROUGH MICROCREDIT
Finally, microcredit is another alternative to banks. Primarily aimed at people in financial difficulty, it allows those who do not have sufficient income to borrow according to the criteria of traditional banks to have access to credit. If you are banned banking, the microcredit will be one of the main solutions available to you to borrow money.