The most common reasons for refusing to grant loans

Loans have become one of the most popular ways to finance consumption needs, dreams and urgent spending. And although there are many offers on the Polish market tailored to the individual needs of different groups of customers, many people receive negative decisions. What are the most common reasons for rejecting a loan application?

Debt and blacklisting

Clients with a negative credit history, who are subject to enforcement proceedings supervised by a bailiff, may have big problems in obtaining a cash loan. Companies involved in lending loans check the BIK, BIG or KRD registers, and persons on the so-called black lists have to take into account the refusal. The same applies in the case of maintenance debtors or persons with other outstanding debts.

Application for a further loan before repayment of the previous loan

This is a common mistake made by the clients of loan companies. In the regulations of most entities we will find a provision that prevents us from incurring another liability if we are still in the process of paying off the first loan. It is worth remembering this and waiting patiently for us to settle the obligation.

Age of the person applying for the loan:

Most loan companies only accept applications from persons over 21 years of age. If you are younger, look for another offer. In order to avoid disappointment, it is worth checking the conditions that have to be met in order to be able to apply for a loan.

Incompatibility of personal data

This is a seemingly trivial reason, but loan applicants quite often make this mistake. This is clearly visible on the example of the so-called verification transfers, which are to confirm the authenticity of the personal data provided in the application. If we provide information such as name, surname and address, the account number from which we make the verification transfer should also be registered to the same individual. The most common mistake is giving your wife's personal details and making a transfer from the bank account registered to your husband. This is worth noting when applying for a loan.