What the bank can find in your credit history and what to do to avoid rejection and get the loan you need.
We often have to deal with a situation when banks groundlessly refuse to issue a loan. Especially businessmen, who urgently need money for business development, suffer from this. In such cases, in order not to waste your nerves, beating the thresholds of bankers, it is better to contact the Fundshop credit service, where you can get a loan within 24 hours after submitting an application. After all, Fundshop is fast financing.
You are a businessman
Banks are reluctant to lend to owners of LLC business and especially to individual entrepreneurs. And every time they suspect that you will use the money received in the form of a consumer loan for business development. And this is risky. Especially if the business is young, worse than that – a startup that cannot confirm the viability of its idea with accounting calculations for three to five years.
What to do
Provide the bank with documents that you are employed (if you work and the individual entrepreneur provides you with an additional source of income), collateral – it is easier to get a loan with him even for an individual entrepreneur. Or show the financial statements of the company for several years, which will indicate that your business is developing.
Security has something on you
The security service at the bank is one of the main services. Their opinion, when considering a loan application, carries the same weight as the opinion of economists. If the Security Council says “no”, the loan will not be issued. The only trouble is that the bases with which security guards check are imperfect. It is impossible to find out who and when, why made a negative entry on the borrower.
They receive a report (and it contains data from the Federal Service of Bailiffs, Tax Officers, the State Traffic Safety Inspectorate, the Central Internal Affairs Directorate, the GUFSIN, from the “black lists of banks”, other organizations and departments), see the entry “Recommended refusal” and refuse.
What to do
You can ask for help from familiar bank employees and try to find out what is wrong with your application. Or find a credit broker company and go there. A good broker will analyze your documents and identify the cause of bank failures, as well as help eliminate it.
There is something scary and confusing about your credit history.
Recently there was a case: a businessman applied to a bank for a relatively small consumer loan to refinance a mortgage. It needed 1.9 million rubles. Despite the fact that he paid both personal and business loans quite accurately (there were minor delays up to 60 days more than two years ago), the total amount of money returned exceeded 60 million rubles. He didn’t even think there would be problems. Have arisen.
One of the loans was topped with a “7” mark – “change in the terms of the loan agreement”. It usually appears when the loan is being restructured and the borrower is on the verge of bankruptcy. At the same time, the borrower himself claimed that he repaid everything on time.
What to do
Check your credit history in advance for such “skeletons in the closet”. If found, clarify the information in the bureau (write a statement and attach documents confirming the correctness), wait for the changes in the document. And for the future, take certificates of closing a credit account when they settled with the bank. Everytime. Even if it’s 10 thousand rubles. Even if it is Sberbank. Everyone is “mowing”.
You have banal delays
A customer who no longer pays other creditors is not needed by any bank. This is not even a bell, but a statement in plain text: “I have no money, no desire (to underline the necessary) to pay on my loans. Give me a loan, and I will deceive you too. “
What to do
If you need a loan, close the delays and wait 3-6 months before contacting the bank again. Then the chances of approval will increase. The more timely payments there will be between the delay and the new appeal to the bank, the higher the probability of a positive answer.
You already owe a lot to banks
Debt load is the percentage of salary you pay to banks on all loans. You give a fifth of your income, which means the debt burden is 20%. Banks consider it normal if the borrower gives 30 – 40% of earnings on loans.
Above is already an extreme situation. When a borrower reaches the line of 50% -60% of loan payments, he may experience a “psychological default”. It is easier for him not to pay anyone than to part with most of his income every time.
What to do
Before contacting the bank, calculate how much you are already paying on loans. Add a new payment to this amount. And see how much of the income you will give if the loan is approved. At least approximately. Keep within 30% -40%, there are chances of getting a loan. No – you first need to pay off previous loans, close one or two credit cards that are just in your wallet. And only after that fill out an application for a new loan.
You look like a crook
Anything can happen in a borrower’s life. I took out a loan and something happened that prevented me from making the first installment to pay off the loan. And off we go: a delay of 30 days, 60 days, 90 days … For a bank, this is a sign of fraudulent activities.
As if you never intended to pay off that ill-fated loan. It’s good if you have now managed to pay it off and two or three years have passed since that. If not, the loan will be refused, either because of open delay , or because they consider you a fraud.
What to do
The main thing is to close the problem loan. And when the “statute of limitations” comes out, bring documents with you to the bank confirming that you did not have malicious intent when you did not pay on the last loan. You just needed money for treatment, you lost your job, or something else serious happened.
These documents will be shown to the bank’s security service, and the chances of a loan will grow at least a little. You may need collateral or co-borrowers to apply for a loan. It’s okay, but you can start from scratch.
Recent bankruptcy details
According to the law “On bankruptcy of individuals”, for five years in the credit history of the borrower, there is a black mark on the conduct of the insolvency procedure in relation to him. Right in the front of the document. This means that no bank will issue a loan to a borrower who has already written off their debts.
What to do
Fortunately, credit history can be restored. The process is long and difficult. You will have to re-prove to the banks that you can be trusted. Through small loans and even microloans, which you will take and systematically return, strictly adhering to the payment schedule.
If you manage to repay three to five small loans flawlessly, after the five-year period you will be able to apply for more serious loans than an installment plan for a kettle or electric heating system. But not before.
You owe someone else’s loans
Surprise surprise. Your credit history may contain the data of a completely stranger. This happens when the data is “doubled” and by mistake, your full namesake credits are entered into your report.
Bearers of popular surnames – Smirnov, Kuznetsov, Ivanov, are more susceptible to this trouble. Some other Ivan Ivanovich Ivanov does not pay on the loan, but they do not approve of the mortgage and do not let you go abroad either.
What to do
Request your credit history regularly and check if all information is correct. If you see that someone has requested your credit history without permission, or if there are records of loans that you have never taken out, immediately write a statement to the credit bureau, they will fix everything. And quickly – in 15 days.
Why else the bank can refuse a loan, we will tell in the following materials. And there are enough reasons. Not all of them are related to credit history. In business, your income, social status and marital status, the company for which you work.