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The bank rejected the loan application – what next?



The bank may refuse our loan application for a number of different reasons, not only because of negative credit history at BIK, presence in the debtors ‘register or possession of bailiffs’ employment, but also if it believes that our income does not allow it.

Today I will present a situation with which many people probably meet. What’s more, I went through this situation by myself, as a matter of fact a dozen or so years ago, but the subject is not a stranger to me. The main topic today is rejected applications for cash loans by banks. What to do in a situation when we need cash for rape and we can not get it from the bank?

There are many reasons why a bank refused a loan application. I remember that in my case the main reason was that I had already repaid the loan (specifically installments for the equipment) in another bank. In this situation, none of the banks gave me credit just because my creditworthiness simply did not allow it. At that time I received the lowest domestic and not enough of it, I already had one loan which I repaid. That is why the banks rejected my loan application. This is one of the most common reasons for rejected applications but there are also others. For example – no interesting credit history at BIK in case if we repaid the previous loan with long delays after bailiff seizure. Today I will try to draw up proposals for additional cash for each of these three cases.

Rejected loan application due to low creditworthiness

Rejected loan application due to low creditworthiness

Undoubtedly, it is still the most comfortable situation of these three because in such a situation practically every non-bank company gave us a loan. And as the situation is comfortable, it is worth choosing an offer that will also be comfortable and therefore the cheapest for us, if someone would ask me for the cheapest loan outside the bank, he would point to Kokos. At the same time, I would warn you that here, unfortunately, we will not get the loan from the hand and we will have to wait for it some time. All because Kokos is not a traditional loan provided by a non-bank company and a community loan provided by private investors. That is, by people who want to make a loan and not lose money. Therefore, they choose the most favorable auctions for themselves and those to which they have the highest degree of certainty that the person will be repaid in a timely manner. So if for the first time we borrow in Kokos, unfortunately we have to give ourselves some time. Both for the registration on the site itself, the preparation of the auction (in which we determine the amount of interest on the loan), but also for … waiting. That would be the right number of people willing to lend us extra cash. If we do not have time for it, it’s better to look in other places, for example …

The bank rejected the loan application – an alternative non-bank loan

The bank rejected the loan application - an alternative non-bank loan

Another loan in which I would say as the cheapest loan in a situation when the bank refused to grant us a loan. The main reasons for this were relatively low incomes. At Providence, we now have the chance to get a pretty good offer, provided we choose the right option. I mean the new Provident proposals, among which there is the Standard option (monthly installments) under which we will get the cheapest loan repayment option, almost similar to the installment of bank loans. It just so happens that I borrowed a good loan a dozen years ago in this company when the bank did not give me the loan I wanted to get. So far, I do not regret my decision, despite the fact that then the cost of the loan was much higher than now. The only option available was currently the most expensive or home one. The waiting time for a loan in Providencie is in the best situation for some 24 hours, if we care for something faster, we can try it in ..

Which is a semi-detached company Provident which specializes in providing only online loans. Thanks to this, we are sure that we will get a loan much faster than in the Providenc, and without any additional formalities dealt face-to-face. The option is much faster but also slightly more expensive to pay. Before you apply for a loan, it is worth checking how much the monthly installment will be for the specific amount and repayment period that interests you.