There may be unexpected expenses at every stage of our lives. Buying a car, the necessary renovation of the apartment are only selected cases. What, however, when we meet with a refusal to grant a loan , i.e. a situation when the bank is obscured by a lack of creditworthiness and is unable to grant us credit?
Most often, customers go to their bank, hearing that they cannot be helped because they no longer have creditworthiness . Unfortunately, often in such a situation customers turn to the non-banking sector for help. This is a big mistake. Short-term liabilities for 12 or 24 months can cause insolvency. Over time, the customer has a growing problem with paying high installments . It is definitely better to contact a professional adviser or credit broker if you have a bank refusal.
The fact that the home bank has not given a loan does not mean anything. Often, customers already have the maximum amount available from bank A. Equally often, their home bank approaches creditworthiness worse than the competition. For example: The ratio of income to installment in bank A is a maximum of 50%. So we can spend up to half of our income in installments. At a competitive bank, bank B, this conversion rate can be 60%. There are even cases of banks willing to grant installments for 70% of the client’s salary.
Each bank has its own methods for determining and calculating creditworthiness issues . Dozens of factors categorize customers and attribute it to possible ability. Such factors are, for example, education, marital status, possession status, number of dependents and many others.
The calculated creditworthiness depends on the individual data declared by the client in the application. Certainly a bachelor with a flat without any dependents will have better credit standing than a single father with 2 children with a rented flat. Banks are cautious when the client has high living costs, the cost of housing.
There is no definitive answer to this frequently asked question by our clients. Each case really requires an individual approach . 90% of clients, after being thoroughly diagnosed, have creditworthiness. Only a small part of them is actually credited enough that it cannot be helped. Many banks offer solutions such as loans based on statements or consolidation loans , which free the customer from the problem of lack of creditworthiness.
Unfortunately, we will not list 2-3 banks here, where customers without creditworthiness will always get financing. There are simply no such. In addition, banks often change their offers on the background that today their names we mentioned could be out of date tomorrow. Each bank considers hundreds of factors when analyzing the client. The role of a loan broker or consultant will be to deal with the client on the offer in which the bank has the best chance of obtaining a loan.
In summary, these loans require a professional approach. Contact with a proven credit advisor is recommended. A professional will help us calculate all issues of our ability and present offers.