Contact each organization to receive reports - you can do this twice a year for free. After the documents are ready, check the data. If there are errors somewhere, contact the creditors with demands to correct them. There are cases when timely repaid loans of citizens are listed as open and overdue. Correcting this information will help improve your credit history.
If you spend more than 40-50% of your monthly income on servicing loans, consider refinancing them. This will help reduce your monthly payment by extending the repayment period and possibly lowering the rate. In essence, you will receive a new loan to cover all existing ones. Reducing your monthly payments will automatically lead to a decrease in your debt load.
How long does it take for banks to review a loan application?
From a few minutes to 5-7 business days. The duration of iceland mobile database consideration may be affected by:
type of lending;
required amount;
loan term;
set of required documents;
internal bank policy.
Previously provided information is also important. If the client has already applied to the bank for a loan or another product, and all information about him has already been collected, then the registration will take less time than in the case of new borrowers. Also, banks usually make a decision on issuing consumer loans in the amount of up to 300-500 thousand rubles faster than on providing secured loans in the amount of more than 1 million rubles.
What should you do if your loan application is rejected?
Don't despair and apply to all banks in a panic - this will negatively affect your credit history and may ultimately lead to automatic refusals. It's worth analyzing the situation and making the right decisions.
What can be done:
Find out the exact reason for the refusal - banks usually do not disclose it, but sometimes the relevant information is indicated in the credit history, so it is worth requesting a report from the BCI.
Wait 3-4 weeks and submit new applications – it is not recommended to reapply for a loan before this period.
Remember that banks may perceive multiple loan applications within a short period of time as a sign of potential fraud. For the same reason, clients are advised not to use the services of unverified brokers.