When we take a loan from a bank, by signing the contract we undertake to pay the liability in installments on the dates fixed. Pursuant to the agreement, the bank provides the borrower with a set amount of cash. Taking a loan means that we will have to pay the installment every month. One loan and one installment. We have obtained cash for a new car without any problems, and the installment is not burdened at all. So we decide on another loan. Therefore, we have another installment to pay. Until we have a problem with timely repayment, we have creditworthiness, our credit history has no scratches, we have a stable source of income, we will receive another loan without difficulty. However, this makes it easy to fall into a loan loop and we can quickly overestimate our financial capabilities.
Creditworthiness and financial standing
The bank examines our credit standing at the Credit Information Bureau. There you will find out whether we have repaid previous liabilities or are currently repaying the debt and whether we do it on the dates specified in the contract. All this has a positive impact on us as a borrower. Moreover, the bank is required to verify each applicant in the Credit Information Bureau.
However, this is not all. In addition, the bank checks our financial situation. This is to verify that we will be able to repay the loan. Here, the most important is the source of our income (e.g. employment contract, retirement pension, disability pension, income from business activity, farm, etc.) and its amount. In addition, the bank examines how much we spend on maintenance per month and how much our fixed fees and previously incurred commitments are. The family situation is also important and how many people are dependent on us.
It all determines whether we have a chance for a loan. If after reading the above you are sure that you will not get a loan for help, contact the brokerage company. Such a company specializes in acquiring difficult loans , i.e. those that you will not receive in a bank branch. When we talk about difficult credit, we mean the difficulties associated with obtaining it. Do not take risks and do not send further loan applications yourself. Already three bank refusals can determine that you will not receive a loan. Companies that help to obtain loans conduct negotiations at the decision-making level and have not only more experience but also opportunities.