If the bank refuses a loan, then usually one of these three reasons plays a role.
We say what it “hooks” – and how you still get to his money.
Reason # 1: The income is too low.
Banks are required by law to check the financial position of a prospective loan applicant. If his income is insufficient to pay rent, electricity, food and additionally the credit, then there is a cancellation. As a rule, the minimum income for a commitment is € 1,300 net per month.
Our tip: If the salary is lower, a second claimant will often promise success. Parents, siblings or friends who may earn more, give the bank the necessary security. The result: The loan is still approved at the second attempt.
Reason number 2 for denied loans: already too many loans available
With every loan you take, the disposable income decreases. After all, a loan is due once a month for each loan. If there are already one, two or even three current loans, then the bank often rejects further financing requests. Hiding existing loans does not help. First, they are in the private credit information, secondly, banks often look at bank statements – and there appear the debits of the credit installments.
Our tip: Especially older loans are often too expensive. In summary, two, three or more loans merge into a single one. And you can even save money thanks to the currently favorable interest rates.
Reason number 3 for denied loans: a “bad private credit”.
Hundreds of millions of data are stored at the private credit, for example on loans, mobile phone contracts or installment payments in the furniture store. If bills are not paid and loan agreements burst, this information also ends up at the private credit A bank looks at the private credit information in the credit check – and if the score is too low, there is no money.
Our tip: It is best to prevent negative private credit entries. When things get tight, you should talk to your creditor and avoid reminders, dunning letters etc. If the private credit is already negative, specialized credit intermediaries like Crediter help. There are loans despite private credit and even loans without private credit.