Why is credit denied, with a good credit history
Credit history is one of the most important markers of a client's financial reliability. The financial reputation of the bor. Most modern credit organizations use a scoring system that allows for the most accurate assessment of a potential client. At the same time, each bank and each organization has different verification parameters, which are not disclosed. If the bor, he may be denied another loan. If the amount of total debt (together with the new loan) turns out to be less than half of the consumer's monthly income, then the probability of receiving funds increases. Otherwise, he will have to pay off part of the loans and only after that apply to the bank again
4. The bor and the bank employees did not have time to react to it in a timely manner. Due to penalties and fines, the debt gradually increased and affected the credit history. In this case, it will be quite difficult to prove something, if the consumer does not have a certificate on the absence of debt.
• The client closed all his loans, but forgot to opt out of paid options, for example, SMS messages. The fee for such a service will continue to be accrued monthly, forming a debt.
• There was an error when transferring data on debt from the bank to the Credit History Bureau (CBI). For example, the consumer took out a loan, but for some reason the data about this operation were transferred to a person with the same last name.
If you often receive negative responses from banks and other financial organizations, but you cannot understand why you are denied a loan, if there are no delays, no errors in the application, and no active loans, be sure to request your file from BKI.
It will be somewhat more difficult to cope with problems if the financial reputation was ruined due to the fault of the bor or a microfinance organization (MFI). They pay less attention to the client's credit history, the presence of collateral and guarantors. Some organizations set a fairly high credit rate, but at the same time do not require a large volume of documents (passport data and an identification number are enough) and approve almost all client applications. All the borrower has to do is choose the most attractive financial offer, read the terms and conditions, and complete the application.
