Did you apply for a loan and was it declined? Find out the possible cause and what to do!
Financing declined? Unfortunately, more and more frequently it happens that those who need to apply for funding are refused without having detailed explanations of the reason for this refusal. A loan can be refused for many reasons and understand what it is that allows you to remedy and ensure that a subsequent request is approved.
Too many debts
In the case of a loan refused because there is too much debt, this is because the ratio between the income received and the amount of the loans in progress is saturated, therefore it is assumed that the applicant is not able to pay an additional monthly installment.
If the reason for the refusal derives from having made other requests, you must proceed to request a release letter from all the banks or financial companies to which you have submitted your request and wait for them to be deleted from the databases
In this case, if the refusal derives from “uncensored applicant” it means that the person has never asked for funding. The solutions here can be various some of these are a second signature, the request for a small amount (2000/3000 USD) and after having paid the first installments, request a new loan.
Installments of other loans paid late or unpaid
Here on the reason for the refusal to finance there is very little to say… and also the solution to be able to request a new one is reduced to the Transfer of the Fifth, a very probable solution since the transfer of the fifth can hardly be refused.
Protests and reports as bad payer
For employees and pensioners with protests or with reporting in the databases as bad payers, the only solution is to request the transfer of the fifth and / or delegation of payment, you can get high amounts and repay your installments up to 120 months!
Weak or recently indebted profile
Why funding rejected? These refusals derive respectively due to a weak profile, therefore deemed incapable of paying the loan installments and recently indebted, that is, they have obtained other loans recently. In both cases a solution could be the signature of a guarantor with income if already registered in the database.
As long as the Rejected Loan is present in the databases, it will be difficult to obtain new liquidity unless proceeding by transferring the fifth and / or delegated payment.