What could be the reasons for a refusal?
If you ask the Loan at the same time to several credit or financial institutions, what happens?
If the request has been rejected can I submit a new request to another bank?
If I propose a Guarantor who has other funding or bad payer is reported, what happens?
What is the Liberation?
What if I ask for a loan to pay for others that I already have?
These are the typical questions that are usually submitted to us. It is important to give them the right consideration because underestimating them would mean losing funding that serves to fulfill and satisfy your needs.
When asking for a loan, you need to know what the bank or credit institution needs to be able to grant it.
Let’s see what the Bank and / or the Credit Institute requires:
- To be hired indefinitely if employed for at least 1 year, is a clause that gives the certainty of having the return money (It is not valid for public or state employees the qules can be immediately financed);
- Have a balance sheet of at least two years if an entrepreneur ;
- Be known in the database as a good payer , because if you are well paid other debts it is likely that you will respect the new ones;
- Having an age that is a sign of maturity and personal responsibility;
- The company where you work must be known and respected financially, this gives the sense of seriousness and continuity of work;
- If you have your own Guarantor to incentivize the Bank’s decision to approve the loan, you must be able to be financed and recognized in the Central Risks as a good payer.
The Bank when it receives a Loan request
- Check the documentation that the Loan applicant provides to the Bank itself.
- Check that there are no other requests in progress and if you are in need of the release that must be issued by the individual Banks and / or financial to which you have turned to obtain the Loan.
- If the request has been refused by another Bank, it will be better to wait for the cancellation times from the Central Credit Office before sending a new one. It is worth remembering that for the cancellation of the refusal in Central Risks it takes at least one month from the request for cancellation. It would be ideal to wait two months. Every refusal dismisses the possibility of being financed, so it will be useful to be cautious even if the urgency could advise the opposite.
The reasons for the refusal of financing by the Bank
- To have been employed for a short time or to have started a business in your own for too little time that, in both cases, would make the certainty of repayment of the Loan fail.
- The age and the lack of personal financial history is an almost absolute brake that requires guarantees such as movable and immovable property or requires the presence of a Guarantor that in case the Loan was not honored he would take charge of it.
- Being too exposed with other loans still in progress that weigh heavily on the family budget.
- Having reports in the course of a bad payer of other loans.
- Being Protested and / or Foreclosed .