Of course, when things get tough and your only alternative is to make a credit grant, you just want the institution to validate the proposal to get the money.
However, unfortunately, before asking for the money, you should be aware that there is a possibility of your loan being denied. With that, the chances of solving your problem can be more difficult.
Banks have different criteria to allow the concession
It is good to remember that banks have different criteria to allow the concession, many besides counting on the score (a score that defines which client is more or less likely to honor the debt), also analyze other scenarios.
Thinking about it, we at Good Finance have separated some possible reasons that make the loan denied! Check out!
What are the main reasons for the denied loan?
Well, when you go to apply for a concession, the bank usually checks that the data provided is correct. If they do not agree, either because of a lack of updates or because you made a mistake in providing them, there is a possibility of losing the loan.
Therefore, it is very important not only to assess whether your data is up to date but also if there are no errors in the RG or CPF digits. In addition, if your income, bank details, and even your address are correct.
Thus, you prevent the institution from verifying that you are not a reliable person since your information is incorrect. And another thing: never, under any circumstances, use other people’s data to ask for credit.
In a general definition, having a dirty name means that you are in default and your name ended up on the register of credit protection agencies, such as GFI, Good Finance and Honest Bank, causing the loan to be denied. For some institutions, being in this condition is a sign that you are not a good payer and, therefore, they will not be able to allow your credit to be released.
Settle your debts, renegotiate the debt
What you can do is resolve your situation first. Settle your debts, renegotiate the debt and legalize your state, that way, your name is removed from that type of list. However, we emphasize that, even if everything normalizes, if you are asking for credit at the same institution, you may have difficulties in convincing it that it will not delay your debts again.
Financial institutions not only assess how your name is before the market but also look at your behavior with your finances. For example, if there are two people and both want a loan, one earns R $ 5,000 per month and the other earns R $ 15,000.