My son (who is not working) somehow believes that there is a bank (not a commercial loans company, but a bank) that will be willing to give him an unsecured loan of several thousand pounds, without doing any checks such as demanding bank statements to see that income (other than benefits) is actually entering his account.
I believe Cahoot may be one bank, but he is under the impression that there are others. What he says is that one can get an unsecured loan, without having to:
a) answer any questions about whether the potential borrower is working.
b) prove that the potential borrower is working i.e. has income entering the account on a regular basis that indicates he is working.
Can this be true? I know banks are supposed to "hand out" unsecured loans, but whenever I have had an unsecured loan in the past, the bank wants the last three bank statements from my main bank account, and on the on line form it asks for employment details, how long I have been working, and what my monthly salary is.
For the record, we are not talking about tens of thousands of pounds, but he says in the 4-6K range.
Thanks.