Why was my loan not approved?
Why was my loan not approved? This is one of the most intense questions here in the “loan portal”, every day someone wants to know the reason for the disapproval. In fact there are numerous factors that can cause a personal loan to disapprove of the banking and financial institutions. Of course some may be informed and others for banking and strategic reasons are not disclosed to the applicant.
Is not the loan approved?
Many reasons already known by the applicant itself is obvious, such as not to check your credit history with the protection agencies. This fact is only discovered when there is a need to borrow money, this is the most common cause. However, other reasons are quite simple, caused by anxiety or lack of attention. Listed below are a few reasons that will make you say, ” Because my loan was not approved.”
Anyone who has accessed personal loan online knows that there is a process that is fast in some institutions, but to evaluate a client if the bank or financial will approve the credit, the registry will go through a treadmill, and on this treadmill are made many assessments until the verdict Last. Typically institutions usually use systems that give points to the applicant through personal data surveys to get the infamous credit score or credit rating.
The credit score can be obtained in different ways, it levels customers informing the bank if they have a higher score and a lower score. Credit score directly affects the risk of the customer paying or not paying an acquired debt. This score takes into account various statistics on financial operations, use of cards, time purchases and consumer payments. In this way, each creditor uses internal and external systems and calculations, ie specialized companies such as credit protector to collect enough data to understand whether or not to approve the loan that has just been requested.
Economic crisis or concession rules
Brazil is currently experiencing a somewhat complicated phase in the economic sector, and at a time like these it is normal for traditional banks and more conservative strategy institutions to decide to grant personal loans or credit only to customers who undergo a stricter credit policy. In general, this happens to decrease the level of credit risk or to reduce the default of some operations.
Many financial information is quoted from moment to moment, and if for some reason the expectation of default becomes high for some reason, for example: an increase in the interest rate, an estimate of the increase in unemployment or a probable change in rules of the modality reported by the government as (payroll deductible credit), fatally more people will lose access to credit for policies and concession rules.
Negative CPF (dirty name)
Negativado : Popularly we say that a person with a CPF denied or inscribed in the protection organs “is with dirty name”, this title is not good for nothing, this indicates that the person is an bad payer, that is, he did not fulfill with his payments and commitments and has unpaid debts.
When applying for a personal loan or credit, in some ways, this restriction indicates that the client is at risk or high risk, in which case the loan application will probably be denied by the future creditor or approved when there is regularization of the financial pending.
But it is not by being with dirty name that will prevent borrowing money, being negative is possible to get personal loans, some financial institutions approve requests with this status, however, interest rates are very high. The financial Crefisa lends to negatives.
Incorrect and / or outdated information
Shit! ” My name is clean and I still can not get personal loans anywhere.” Oops! So is not it just because we’re being denied that we have the unsecured loan ? Today most loan comparison sites have forms for application and application, the most common error of users is to provide incorrect and / or outdated data at the time of filling.
When applying for a personal loan online, fill in your details carefully, so that there is no mistake in entering the RG or CPF number, contacts, home address, income information and bank details. Missed the data, either of two, or delay the release or have the loan not approved.
So you know, report your data without errors and as up to date as possible, when you submit your request, creditors will perform an analysis and if there is inconsistency in the data – denial of the request may occur.
Credit history and payments
The interest rate, credit terms, and loan terms are based on the financial institutions’ ascertainment of their payment history, including for order approval. The cleaner and cleaner your credit history and score, the better your chances of being approved with special terms.
In your payment history, your custom of paying bills out of the due date or debt renegotiations is related. It is worth remembering that even if you get here intact, it does not have a dirty name, it has no debit in arrears, it has an acceptable score, but it can still be withheld.
Your proof of income
Whether it is self-employed, salaried or professional, one thing in common among them is having to prove the ability to pay (monthly income) compatible with the value of the loan amount. In some modality it is possible to commit up to 30% of the income with installments of personal loans, but the ideal is that it does not exceed 20% of its gain. The higher the repayment capacity, the higher the amount to be released and the lower the chances of having the loan application disapproved.
Currently half of Brazilians are committed to credit debt, most with debts that exceed 30% of their monthly incomes, when the banks or financial ascertains this condition, the possibility of the institution not releasing the credit also increases. With the exception of home equity loan or vehicle loan, long personal loans increase the chances of not having cleared the loan.
Conclusion: Not approved because?
Yes, I think it gave you an idea of how complex it is to ask for a loan and to have it approved. The work of the lender is in possession of your sensitive information and data to approve or disapprove your loan. Everything can influence. Now if you are a civil servant, retiree or pensioner, military of the loved forces, try a consignment loan with this easy and no bureaucratic loan mode. Lots of luck!