You need extra money but the bank rejected your personal loan application? Calm down, this is very common, and it can happen for a number of reasons. Resolving each situation may be the key to receiving the borrowed amounts.

Check out some of the conditions that may influence the bank in your decision, and learn how to solve them!

Dirty name

bank

The first reason that a bank usually denies a loan is that it has a dirty name. This means that you have already failed to pay a debt, and today your social security number is negative. In this case, the institution understands that there are chances that you will not pay the new amount, and is afraid to provide it.

To resolve this condition, the only solution is to settle the outstanding debt. If the purpose of the loan is exactly this, it is interesting to expose it to the bank. This may make it easier to negotiate.

Payment History

Payment History

Having your name cleared today, but having already failed to pay values ​​someday, can also be a loan deterrent. After all, the bank will analyze its financial history, including with institutions such as Serasa. In this case, if the amounts are approved, the bank may still charge higher percentages of interest.

Thus, it is interesting to perform the so-called Positive Register. Available on Serasa, registration is a good payment record of all your current accounts. With this measure, the bank tends to have greater consumer confidence.

Payment Ability

Payment Ability

Among all loan requirements, the main one is his ability to repay. That is, if you have monthly income to settle the amounts correctly. For this, the financial institution will request proof of payment of salary, or other income. If you do not have a fixed income, you will hardly get the values ​​you seek.

Loan Amount

A loan can only be purchased if it is up to 30% of your monthly income. This percentage is considered safe by financial experts as it prevents consumers from compromising their lifestyle for payment. If the bank denied your loan due to this factor, the solution is to apply for a smaller amount.

Finally, the delivery of outdated data can completely block the granting. Data such as social security number, income, home address or bank information. Therefore, be careful when filling out each of the requested information.

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