What to do if they do not give a loan: reasons, tips and recommendations

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Everyone can face such an unpleasant situation as a refusal to issue a loan. Often this happens for unexplained reasons. What to do if they do not give a loan? How can I find out the reason for the rejection? How to fix your credit history and remove yourself from all blacklists? Let's try to find answers to these questions together.

Why banks refuse

Almost every person faced in his life with an acute shortage of funds. Delayed wages, unplanned financial expenses, force majeure - these are the most common causes of such a situation. It would seem that you can borrow money from a neighbor, next of kin, work colleague or friend. However, practice shows that recently no one has extra money. Fortunately, the services of Russian banks allow you to quickly solve any financial problems and get the right amount. But not everything is so simple.

Often, after submitting an application, the client is denied a loan. Why is this happening? What to do if they do not give a loan? How to find out the reasonrefusal? It should be immediately noted that the bank has the right not to explain the reason for such a decision. But money is needed, and another attempt to get it ends in failure. What to do if they do not give a loan? Let's first understand the main reasons for the bank's negative decision.

Meet by clothes

Paradoxical as it may seem, but the appearance and behavior of a potential borrower play an important role. The credit officer must pay attention to the appearance and demeanor of his client.

Self-doubt, nervousness, untidiness - all this negatively affects the impression of the applicant and the decision of the bank. If the client is confused in the answers, constantly hiding his eyes, looking away, holding himself uncertainly, then the credit department employee will begin to doubt the solvency of the applicant and the impeccability of his financial reputation.

Therefore, a personal visit to the bank should be given special attention. A well-groomed appearance, clean clothes in a neutral style, and a confident look can help you get what you want.

You can never have too much money

Low income is another reason why a bank has the right to refuse a client. What to do if they do not give a loan in this case? To get started, find out the size of interest rates and the size of the monthly payment.

When applying for a loan, the solvency of the applicant is considered in detail - information about the specified source of income is checked andhis level. If the applicant's salary is not enough to fulfill the loan obligations (including all mandatory payments), the bank will refuse to issue a loan.

But too high a level of income can cause a negative decision of the bank. The fact is that an overly solvent client will be able to repay the loan prematurely, which means that the financial institution will lose its profits.

What to do if they do not give a loan? First of all, you need to look for the reason for the refusal. And one of the most common is bad credit history. Let's dwell on this concept in more detail.

Financial reputation of the borrower

The moment is given top priority. The client's credit history is thoroughly checked, and based on the information received, conclusions are drawn about the applicant's creditworthiness.

The bank needs to check if their potential client is in debt. To exclude the possibility of refusal, the borrower must personally verify that his financial reputation is impeccable. To do this, just send a request to the BKI (credit bureau), after which the client will be able to find out if he has old debts.

It is noteworthy that some banks do not give a loan if there is no credit history at all. They have no information about the solvency of the client, and they do not want to take risks.

Other reasons for rejection

What to do if they do not give a loan and do not say the reason for the refusal? Trydetermine what was the reason for the negative decision of the bank.

Inconsistency with the age criterion is another reason why a potential borrower may receive an SMS notification with the text "Loan denied". Few banks in Russia issue loans immediately after reaching the age of majority. However, a young applicant must be 21 or even 23 years old. This is due to the fact that an 18-year-old client is in the so-called risk group (he can be drafted into the army, he can study at a university full-time, that is, it will be difficult for such an applicant to repay a loan).

Banks that make loyal demands to their customers (regarding the age limit) most often offer somewhat harsh lending conditions (increased interest rates, short terms, etc.).

Criminal record is the obvious reason for rejection. A person with a tarnished reputation will not be able to get a loan from a large Russian bank. The maximum that he can count on is a loan from an MFI.

A woman with obvious signs of pregnancy will not receive a loan, because after the birth of a baby she will be deprived of a permanent source of income.

Do not give credit. What to do?

It is worth understanding the algorithm according to which the bank decides whether to issue a loan or not. The client submits an application for a loan, indicating the amount of the requested amount and the desired loan term. If a potential borrower knows that his financial reputation is impeccable, he meets the age criterion and hasconstant income, you can collect all the necessary documents in parallel.

After receiving an application, the bank starts analyzing the data: it checks whether the applicant has a permanent source of official income, compares its size and the amount of the monthly payment, and also sends a request to the CBI. The time for consideration of the application is different: some banks check quickly (within 2-3 business days), others may delay the preliminary decision for a week. Much depends on the size of the requested loan. So, if we are talking about a small amount for consumer needs, the bank can announce its decision directly on the day the application is submitted. In the event that a client applies for a mortgage loan, you can wait a whole month for a call from a loan officer.

What happens next

The applicant receives a notice of the bank's preliminary decision, after which he needs to come to the branch in person to sign the loan agreement. However, in some cases, the client is denied a loan for unknown reasons.

Do not give credit? What to do with it? You should not call the bank and try to find out why it was refused, as the employees of the credit department have the right not to disclose information about the reason for the refusal. You should try to figure it out on your own. To do this, it is necessary to study in detail the following factors:

• Status of credit history.
• Meets the age criteria.
• Source of official income and the amount of the latter.

It happens that banks do not give credit. What to do if the reason for the refusalinexplicable? Try your luck at another financial institution.

Maybe you'll have better luck there.

Why don't banks lend? What to do? Where can I find the missing amount? Sometimes Russian banks suspend the issuance of loans due to the difficult economic situation in the country. This does not happen often, but this factor also needs to be taken into account.

Helpful tips

What if no one gives credit? What to do with it? Here are some relevant suggestions that will help solve the financial problem:

• If you need a small amount, you can contact the MFI. Microfinance organizations easily issue small loans to almost everyone. They do not look at the state of credit history and do not pay attention to the level of income. Lending conditions are quite tough, but this will help those who were not given a loan at Sberbank.
• What to do if there are doubts about the purity of the credit history? Send a request to the BKI and clarify the information. In the event that the financial reputation is not impeccable, try to correct the credit history, fortunately, this can be done in large Russian banks.
• A large loan can be applied to any family member or close friend, if their income level meets the required parameters.
• What to do? Nowhere do they give a loan because of an insufficiently high level of income! In this case, you can provide the bank with collateral.

Many financial institutions soften their terms if the client providessolvent guarantors. What if they do not give a loan in banks? What to do in a difficult financial situation? You need to sit down and think carefully. It is quite possible that a potential borrower will be able to independently figure out and eliminate the reason for the refusal.

Banks that give loans to everyone

This information will help if they do not give a consumer loan. What to do? Turn to more loyal lenders. However, it should be remembered that the price for such an attitude is higher interest rates and tight credit conditions. So, where to apply for financial help?

1. Microfinance organizations. There, without any problems, they issue small amounts (within 50 thousand rubles) for a short period (usually up to one month). The interest is slightly high, but the requirements are minimal.
2. Credit card. Many banks, in order to attract more customers, practice issuing credit cards, with which you can improve your financial reputation.
3. Repair credit history - this service is provided to customers in many Russian banks.
4. Make a request to a private person. Here it is important to pay attention to the terms of the contract.

Sometimes you can hear such a phrase: "I want to take a loan! They don't give! What should I do?". The main thing is not to panic. Having decided on the required amount, you can apply to several banks at once, including those that have just started working in the banking sector. The fact is that young companies are very interested in finding new customers. It's possible they won't notice.on a damaged financial reputation and lack of necessary documents.

How does a bank check a potential borrower

The very first stage is the client's compliance with the declared characteristics. After receiving the application, an employee of the credit department begins to call the relatives of the applicant and his colleagues at work. So he will know whether the potential client of the bank is a responsible and solvent person.

Then the loan application goes directly to the bank, and the client's information is checked in more detail: requests are sent to the CBI and the so-called databases with a "black list" of borrowers. This way the lender will know if the applicant has large debts, outstanding loans and fraud. The presence of even one of the above items will cause a refusal.

Most Russian banks use a specific system for evaluating the responses of a potential borrower. It's called scoring. In the course of its application, each response of the client is assigned a certain number of points, the sum of which determines the reliability of the applicant. Let's say that in any bank the minimum number of points for a positive decision is 100. If the client scored 90, the loan will not be approved.

Refuse to issue a loan may also be due to the disagreement of one of the co-borrowers. For example, when applying for a mortgage loan, the level of income and financial reputation of not only the applicant is taken into account. In this case, the characteristics of the spouse who acts as a co-borrower are taken into account.

Goods on credit

Often, citizens of Russia prefer to take any goods on credit. A car, household appliances, goods for construction and home renovation, phones and tablets, as well as payment for medical or educational services - these are the main needs of Russians, which they try to satisfy with loans.

Many tend to buy a fashionable and very expensive phone. Modern gadget manufacturers offer their customers innovative models equipped with the most unimaginable functionality. Mobile devices have firmly entered the life of a modern person. Now, with the help of a smartphone, you can control household appliances in the house, monitor children, make payments and communicate with friends. Such a mobile phone costs 2-3 salaries of the average Russian. Credit is often the only way to buy portable electronics. But even here unpleasant situations can arise. What if they do not give a phone on credit? What to do if the bank refused to buy a fashionable gadget? Let's pay attention to useful tips that will help prevent a negative bank decision.

Loan approved

A person who has no overdue or outstanding loans should apply for a financial or commodity loan. It is desirable that 1 month has passed since the last payment was made (there are situations when the CBI is late with updating information).

You should apply to a financial institution by collecting all the necessary documents (passport of a citizen of the Russian Federation, income statement, copywork book).

You should contact the bank only when all loans are repaid, the credit history is clean, and the client himself is confident in his impeccability and solvency. Then success will be guaranteed.

And the last piece of advice for those who receive wages or pensions on a bank card. It is worth applying for a loan to him. The bank has data on credits to the card, so it will be much easier to get a loan than in another organization.