Not all loan applications, unfortunately, are successful.
There are also those that are rejected, for many reasons. The important thing to know is that, if you are in this situation, you are neither the first and you will certainly not be the last to whom a financial or bank has said no. In this guide we will try to understand why funding is refused and how it can be done.
Understanding the reason for rejection
The first important thing is to understand the reason for a refusal, so what was the reason why the bank said “no”. Below is a list of the most common causes:
- loan refused because one already has one , is one of the most common causes. If you have already turned on a loan in the past, or if you have a loan, the bank or financial institution tends to refuse to grant new financing if you do not provide sufficient financial guarantees;
- Loan refused because it was not counted , is one of the reasons for never applying for credit until now, so it is completely unknown to banks or financial institutions. In this case, the “trick” is to make a first loan application for very low amounts, say around € 1,000, repay everything in a timely manner and only then proceed with higher requests;
- p remained rejected because bad payer or protested , another very frequent cause. In this case, your credit history is not good and the lenders tend to refuse the request. The only way to get back “on track” is to improve their personal situation trying to get out of the register of bad payers or that of protested, two things that however require the minimum time required by law.
Loan refused: can I ask for another?
Yes, it is possible, but you must not be in a hurry. ” When I can ask for another ” is, in fact, one of the most asked questions because, from the moment you get a refusal, you go a bit into the ball. You should know that, after the denial of the loan, this decision remains registered in the CRIF register for 1 month, so if you ask another question within that month, even this new request would end up being rejected (and damaging your financial profile).
Better to wait for the minimum time and then apply for a new loan.
Loans refused, the release
The release is the document certifying that the status of the loan application is no longer waiting, but in “rejected” or “withdrawn” mode. The important thing, when applying for a new loan, is that it is not in the “Requested” status, which means that the financial agency or bank has not yet made a decision.