What if my loan request was refused?
You have been searching for the perfect car for a long time. You finally found it. Or you would like to remodel the house with perhaps an extension. Such things cost money. Money that you probably do not just have somewhere. After all, large expenses must be saved for a long time. And even then it may be difficult to pay for everything. A loan is then obvious. With the help of a loan you can obtain money quickly without having to save or economise for a long time. Yet not everyone gets a loan just like that. It often happens that a loan application is refused. What should you do then?
The conditions of a loan
Banks and lenders have a number of conditions that must be met in order to apply for a loan. These conditions are the same for virtually all lenders. For example, one must generally be between 18 and 75 years old, one needs a fixed income and one should not have negative BKR quotation on name. When you meet these three requirements, getting a loan is not difficult. However, you may still not be granted a loan, even if you meet the above requirements.
To borrow, you must have sufficient borrowing capacity. After all, banks and lenders have to be able to trust that your financial situation allows the repayment of the loan. If your income is not sufficient or if you already have several loans open, the trust falls away from the banks. You must have a permanent contract so that you can repay every month. Sometimes, however, it may be that one lender is a lot stricter than the other, so you may be able to borrow from someone else. It is certainly not unwise to look around at several lenders. This way you know where you have the best chance of success.
Standard loans always have a minimum amount that you can borrow. If your loan is too small, you may not be eligible for a loan. You can then, for example, opt for the mini loan. If you want money up to € 500 in the short term, this is a simple solution. However, borrowing a small amount is not always the right solution. For larger amounts you will really have to meet the above conditions. Without fixed income it becomes difficult to apply for a loan.