So, you need a loan. Having been refused in one bank, you went to another, but there you failed. What is the problem? It would seem that you have a statement of income, and the required amount is not from the category of sky-high. Such problems are most often encountered by people who have a bad credit history. What does it mean? Everything is very simple: at some stage in your life, you refused to pay a loan or you regularly delayed installments.
For banks, the credit history of the client is one of the most important criteria. And if you have established yourself as an irresponsible borrower, it will be difficult to fix a negative reputation. After all, the bank is completely not interested in cooperation with those people who are prone to violations of the terms of the contract. In fact, your life circumstances for them practically do not matter. Much more important is how reliable a borrower you are.
How is a bad credit history formed? There are several violations that may contribute to this:
- Full non-repayment of credit funds (this violation is the most serious, and in the future you should not count on a positive credit decision).
- Multiple delays in payments for a period of 5 to 35 days or more (average violation in terms of severity).
- A single delay in payment of less than 5 days.
As for the last paragraph, it is not considered a violation as such. After all, it is quite common that the borrower pays funds right next to the deadline for payment, and they simply do not have time to get to the bank in the right time. Almost no one pays attention to such trifles. If delinquencies of less than 5 days are regular, you cannot name an ideal credit history. However, most banks will not see serious reasons for rejection.
If payments are overdue for a period of five days to 35, this is already a bad credit history. However, if the debt was paid in one way or another, the bank may subsequently approve your application for a new loan.
Clients who, in the past, did not pay credit at all, are not even considered by banks - they are instantly denied.
However, a bad credit history can also be with a person who has always faithfully paid a debt to the bank. Obstacles to receiving funds can be litigation, the recovery of child support, or even such a trifle as a debt to a neighbor.
How to fix the situation?
Many are interested in where you can get a loan with bad credit history. Such opportunities can be found, of course. However, it is unlikely that you will be able to cooperate with official structures. And you have to pay for it. Therefore, it is better to think about how to fix your credit history (or rather, improve it).
- Visit the bank branch and present evidence that at the moment you have changed your attitude towards loans, become responsible. For example, you can present statements confirming the modern payment of various bills (utilities, etc.) over the past few years. A big plus will be the availability of documents confirming high solvency and regular income.
- Explain the reasons for the failure to fulfill debt obligations on the loan (if the reasons were not dependent on you and were associated with an illness, a reduction in work, non-payment of salaries, etc.).
- Another proof of your reliability may be deposit accounts opened in this bank (from 1 year).
A cash loan with a bad credit history can be taken from special services, however, as a rule, you have to pay sky-high interest payments for such a pleasure.