Applying for a loan can be an excellent solution for dealing with unexpected expenses or achieving that much desired project, so as not to fund your savings and defer spending in comfortable monthly installments.
But what happens when the loan is rejected and what are the main reasons ?
Let’s look together at the main causes that lead to the refusal of a loan.
Contract and type of work
One of the main reasons why a loan is rejected is related to the applicant’s work situation. For example, if a person does not have a stable job it is very likely that the credit institution requires additional guarantees or otherwise does not positively evaluate the request.
Loans are also rejected because the wrong type of financing is chosen.
The assignment loans, for example, is a form of loan designed specifically for employees and retired workers. It is a financing sustainable, convenient and secure, without the need for guarantors or mortgages with fixed rates, installments that never exceed one fifth (20%) of the net monthly income, direct deductions in the payroll or on the pension and always included insurance.
However, if the applicant is self-employed, the lender can not in any way meet the demand. Therefore in this case the right product could be the personal loan or the mortgage.
Having been late in payment or unpaid and having received a report to the LIS (Loan Information System) may represent an exclusion factor for the loan request.
In this case it is appropriate to evaluate the Assignment of the Fourthe, which thanks to its specific characteristics can also be requested by those who are bad payers.
The Cession of the Fourthe, in fact, provides for a direct deduction in the pay / pension envelope equal to the amount of the installment and the direct payment by the administration (or pension institution) of belonging, at no additional cost. This implies that there will never be an unpaid installment and therefore payment delays, as well as providing an additional guarantee given by the administration itself.
What are LIS?
The acronym LIS identifies the Loan Information System : they are telematic databases which collect and manage information relating to requests / credit reports.
The participating institutions (banks and financial companies), on a voluntary basis, provide the LIS with data relating to the credit ratios of their customers and, on the other hand, access them to know the credit history (payment trend; residual debt exposure, status of the report) of those who requested a loan. If the outcome of this evaluation is positive, the funding will be granted, otherwise there will be a report of the refusal to the LIS themselves. The customer will then be informed of the causes that led to the rejection of his loan request.
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