Maybe at this moment you need to access financing and have gone to your bank of life to apply. Or to another financial institution in which you have located a product that seems interesting. However, it is likely that you have been denied access to the money. Do you know what are the main reasons why they can deny you a loan?
Main reasons why you can be denied a loan
There is not a single reason why you can be denied a loan. Although there are certain variables that affect more than others when making the decision. The most important are undoubtedly the following:
That your name is registered in one of the delinquency files
As a general rule, one of the main data that is checked when an individual or a company requests a loan is if it is registered in a delinquency file. The main companies operating in our country are Asnef, RAI and Cirbe.
If we appear in one of them there will be many credit companies that will directly deny us access to financing. Others will accept it as long as the debt that has led us to the file:
- Do not be for a financial default
- I do not exceed € 500. Some loan companies will accept clients with debts of a maximum of € 2,000 and others will not take into account that they appear in these files as long as they can repay the loan.
Lack of demonstrable income
Requesting a loan implies having sufficient financial solvency to be able to return it, together with interest, within the agreed period . Therefore, we must have enough income to face the payments. Those users whose income is low or unstable will have more difficulty obtaining a loan. For example, many banks directly deny financing to the self-employed or those who lack a stable payroll.
Little job stability
The lack of demonstrable income leads us to the next point that may be another reason to deny a loan: job instability. The lack of professional seniority is an impediment to get large loans . Although today there are many credit companies that offer loans to those users with a minimum age of three months. We can not ignore that today the employment situation is very complex and that few are the citizens who have an indefinite job and seniority in their position.
However, if you want little money or have the unemployment benefit, the safest thing is that you get the money you need.
Although it seems incredible, another aspect that is reviewed when a loan is requested is the civil status of the client. Having children, being married, separated or being single can affect, and much, to grant you a loan .
As a rule, banks feel more comfortable lending money to married couples and children than to young singles. For this type of entities is a plus that you have family charges that will make you have constant income. And that you have a partner who can support you financially in case you can not repay the loan.
Do not put our data correctly
Many credit applications are rejected immediately for this reason . Unfortunately, there are many people who, due to carelessness, incorrectly indicate their personal data. That there are errors in the name and surnames, in the address and of course false data, are sufficient reasons to deny a loan.
Carefully review your personal information when requesting a credit. Even the email address. And remember that the bank account you provide must be yours. Do not belong to your partner, another family member or a friend.