Cash Loan for Tipping Type Seafarers

Tipping Type Salary for Seafarer

I just realized yesterday, October 29, 2013 that there is a type of seafarer salary called as tipping style or those who are pay on board type. Yesterday was a dilemma for a loan consultant who didn't know yet and haven't experienced this case of a loan applicant for my seaman loan product although I must admit that this is the first time, it also taught me a good lesson for the day to add up to my experience.


That with this type of salary for a seafarer (seaman or seawoman) mostly those working in a casino via a luxury ship or passenger ship, they'll have to provide 3 months latest payslip to be able to have a basis for computing the loanable amount. More information regarding loan requirements may be found here - http://seamanloans.com/. The reason for this is because payslips of seamen of this type of salary have much bigger earnings on their extra tips and benefits than their actual salary.

In this particular case also, I learned that a senior citizen aged more than 65 years old to be used as the co-borrower will have a bad effect. Loan application can get declined and waived permission denied just like what happened yesterday to a client I am assisting.

The only remedy would be, if you want a client to get approved of the loan is to provide a co-borrower with a regular source of income. A nearest relative as much as possible. If you can't, then the application will be rendered non valid and void.

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