Can I apply for a loan on someone else’s behalf or use the name of a third party? This is certainly the time of truth, when you get into a situation where a family member, relative or friend needs a personal loan for not being able to get it on his own, he asks you to use his name. Maybe because the name is dirty or negative in the protection organs or because they can not prove income.
Taking a loan in someone else’s name?
The unstructured answer for you that wants to know whether or not you can use someone else’s name to apply for a loan has no secret. I believe you already know the answer, however, for being clear – it is NOT. A personal credit agreement, consumer credit or financing can not be granted or signed on behalf of another person, nor released into account and a third party.
There are dozens of causes that motivate people to seek credit in banks and financial institutions. At that time, many of them are faced with a problem that is very common in our country. They find that they are restricted in the CPF and enrolled in SPC, Serasa, Boa Vista and others organs.
When this is realized and the need is too great to get a sum of money, the most common is to look for someone close or not to use that person’s name to get credit, but that may not be possible, at least by legal means.
Banks, financials, online credit platforms, marketplaces and internet credit fintechs, or any company that provides credit, have various means to prevent third parties from borrowing on behalf of others primarily without their consent. For starters, the money released is usually made directly into the contractor’s bank account. This makes it virtually impossible for someone to take out a loan on someone else’s behalf , even if by chance she can simulate the signature.
Can I borrow on behalf of another person?
Let’s understand one thing … in any of the modalities to pick up personal credit like:
- Non-payroll personal loan (personal loan)
- Payroll-deductible loan
- Loan with guarantee of property or vehicle
- Financing modalities for negative (credit for negatives)
You can, as long as the person knows and has an interest in putting his own name into play. That is, in the case of personal credit she would have the carnet, boleto or discounts in the holerite registered in her name. In the consigned, the discounts of the parcels would be made in the benefit of the INSS or in the own monthly salary of the person who lent the name. In the secured loan is the worst, in which case the property or property would be at risk if the person who would be responsible for repaying the loan failed.
Can I make a loan to a third party (friend or relative)?
As already mentioned, there are two cases, one in which the other person does not know the operation, and another in which the person is fully aware of the borrowing of the loan.
But regardless of how close the relationship is, if you take out a loan for someone else, the only person legally responsible for repaying that money is whoever has the name on the contract – you.
With regard to your agreement with your lender (bank, financial, marketplace) you are taking money on your behalf and for you, then it is you – and only you – who is legally responsible for repaying them.
Personal loan on behalf of friend or relative
It does not matter if the person who requested will make repayments on time or not, the lender will expect you to keep payments on the installments of your loan every month as it was combined. If you do not have enough to cover the payment of the installments, this can cause serious stress on you, your friend, etc., because your name may be negative and the creditor can take legal action against you (enroll the CPF in SPC and Serasa).
They certainly will not chase the person for whom you got the loan, the lender has no interest in your unofficial agreement to help a friend or relative.
One more detail, even if you have enough money to pay the installments of the loan, then you have to be charging your friend or family member to get the money back. This will undoubtedly put a strain on the relationship that is not even worth thinking about.
Agree to accept a loan on your behalf
Before agreeing to accept a loan on your behalf to another person, it is important to consider a dozen reasons why he is asking for this personal favor. If it is because the staff have dirty name or this is negative and can not get credit in the banks and financials, maybe you should consider whether this means that the person will be or can afford to repay him without problems.
Is lending on behalf of another person a crime?
The answer is yes. It is not allowed to make a personal loan using third party documentation. Credit companies today are prepared and use sophisticated and rigorous review processes to prevent loans being defrauded, and documents from others being misused.
One of the ways to avoid online scams in online loan applications is to send selfie from the client and the documents themselves. This helps in identifying the borrower.
Can I borrow my name for another person to borrow
The name is yours and you do with it whatever you want, however, be careful when you lend your CPF (name) to a friend, relative or family member who needs a loan, always think of the hypothesis that they do not pay you and you get as a loss and without the friend.
Be aware that if he does not pay you you will default and still have to keep the debt.