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Have the financing rejected It is something that can put an end to your dreams of owning a new car, or even your own home.
While some people are sad, on the other hand, it is common for some people to feel angry. After all, why does the bank reject a loan?
In today's material we will talk a little about this subject, so that you can understand what obstacles can hinder your plans.
So, if you want to know what they are and how to resolve the situation, come with us!
Rejected financing: 5 probable causes
You chose the car or property, agreed everything with the seller, but when you ran the simulation with the bank, your financing was rejected. What now?
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This situation seems like a nightmare for those who dream of buying a new property, and just thinking about it happening gives you the chills, doesn't it?
And if instead of thinking about it, you are living this situation in reality, it is likely that your head is full of doubts, and even a certain revolt. After all, can the bank reject a loan?
Yes, the bank can reject the application, after all, financing is nothing more than a form of credit, and as we well know, no bank is obliged to provide credit.
Therefore, if your profile is not approved in the pre-grant assessment, your financing will certainly be rejected. But why does this happen? See 5 probable causes below.
1. Debts
One of the basic requirements for financing approval is that the applicant has no restrictions, i.e., no debts.
This is because defaulting directly affects the evaluation of your profile, after all, if you don't pay that debt, how do you intend to pay the financing?
Therefore, if you have a bad credit rating, it is almost certain that your financing will be rejected by the bank.
It is worth mentioning that most banks offer the possibility for customers to pay off their debts and then try for a new approval.
So, if your financing was rejected, negotiate your debts and get a new assessment.
+What is Consolidated Credit: learn about the proposal and where to find it (consultacred.com.br).
2. Low score
But if you don't have any debts and your financing was still rejected, you're probably confused.
In this case, the reason may be a low score, which is nothing more than a Serasa score below 500.
The score is low when the customer does not have a history of good payment, that is, when they frequently take on debt or even when they do not have enough data to build a history.
And, although the score is not a decisive factor in granting financing, it is a reflection of your financial life in general.
Therefore, evaluate your score, and if you notice that it is low, try to improve your financial life, in order to avoid future rejections.
3. Active Debt
When checking your debts, you probably went directly to Serasa and SPC, and noticed that there were no outstanding debts there, but the bank still reported the restriction.
In this case, the reason may be the so-called Active Debt, which is a restriction list aimed at debts related to fees and taxes for the Government.
Active Debt is not listed in common credit protection agencies, which is why you did not find it when you first checked.
Therefore, search for your CPF in the Active Debt of the Union, in order to locate and regularize possible pending issues that resulted in the financing being rejected.
4. Internal restrictions
If you have already checked your CPF at Serasa, SPC and even Active Debt and found nothing, all that remains is for us to talk about internal restrictions.
Internal restrictions are those that remain with the bank when you pay a debt with a large discount, or even let it expire (the famous “expire”).
In these cases, the bank can no longer charge you or even include your name in credit protection agencies.
However, internally it is allowed to record this “loss”, which becomes an impediment whenever you attempt any type of credit.
This is because, as we have already explained, the bank is not obliged to grant credit to anyone, especially when this customer does not already have a good internal history.
In this case, you can try to resolve this issue with the attendant.
This may interest you: Can pre-approved credit be denied? See how it works! (consultacred.com.br).
5. Committed credit margin
Finally, if you have already made all possible inquiries and have not found a single restriction, in this case, all that remains is to consider the compromised credit margin.
When we talk about credit margin, we are referring to a percentage of income that can be used to finance credit lines.
This percentage exists so that people do not commit their entire income to paying loans and other lines of credit.
In general, a loan and even financing are granted according to the credit margin, considering the maximum amount that the customer can pay.
However, when the customer already has a credit agreement or even has living costs that make it impossible to pay for more things, such as alimony, for example, this margin may be compromised.
In this case, the bank will hardly grant another loan, since it could exceed the limit determined for income commitment, which results in the financing being rejected.
What to do when financing is rejected?
At this point you already know the main probable causes for having your financing rejected.
With that, you may already have the answer to your case. But what should you do?
The first step is to try to talk to the bank, in order to understand what is causing the restriction, and how the problem would be resolved.
As we explained, some banks allow the release of financing immediately after the restriction is resolved, but this is not a rule, so it is worth checking.
But, it is worth mentioning that this only works in the case of debt, because it is not possible to change a low score overnight, for example.
In the case of a compromised credit margin, there is also nothing that can be done until your income changes, or the commitment ceases to exist with the end of a contract, for example.
Therefore, evaluate your case carefully, and if possible, ask a professional for help in order to find the best solution.
This way, you will be able to move forward with your plans and make your dream of acquiring that important asset come true!
Read also: Players Bank: is it worth having a card for gamers? (consultacred.com.br).
