When you apply for a loan there are only two options: to be told yes or no. Undoubtedly, the rejection hurts, because if the loan is requested it is because you need it. But it is what banks usually do to protect themselves from clients they consider risky, that is, those to whom they would lend would be a loss because they are at great risk of not returning the money.
Refusal of a loan
However, they are not always right, so the refusal of a loan is not a reason to sit idly by; On the contrary, the ideal is that you begin to reverse this event, so that you can get the credit you need.
To achieve this, here are four things you can do:
1. Find out the reason for the rejection
Financial institutions are obliged to inform you why they are rejecting the loan and this is the first step in order to change the situation. They must specify whether it is to doubt your ability to pay or if the matter is not being able to support your income.
2. Ask what the amount would be financed
In addition, you can talk with the advisor about the amount they would agree to provide and so the advisor will tell you what is the maximum amount that the financial entity could give you. It will be up to you to evaluate whether or not you request that amount.
3. Choose another type of credit
Another point to consider is that some credits have more requirements than others, so their evaluation is stricter. In the case of free investment credits, the requirements are lower, so they are more likely to approve it.
4. Try an entity with lighter requirements
Although entities have similar conditions, some are more flexible than others. Once you exhaust all possibilities with one, you can use the second option. For that, the ideal is to compare the alternatives and keep in mind the three best options. You can make that comparison using the Tarzan website.