Client advisors from all financial institutions do not always only look into the happy faces of their clients. Unfortunately, preliminary credit talks do not always end with the desired result of a loan approval. Is a loan possible despite rejection or does the “no” of the client advisor mean a final “end” for the loan request?
More and more people are learning the other side of their house bank in times of precarious employment and low wage increases. A loan cannot be approved, this is the result of the consultation appointment more and more often. Out of the blue, no longer being creditworthy, how can this happen? Plagued by self-doubt, many wonder what they did wrong. For anyone who has nothing to reproach, the sobering shock is followed by inner anger.
If you don’t want to resign, you pick up the phone and try your luck with your manager. The loan should be possible despite the rejection. The chances of success of this attempt are unfortunately very limited. Not the clerk or the bank customer made a mistake, but the effects of the USD crisis are felt.
The lending regulations were tightened almost across the board. Loans that were easy to approve in the past must be rejected today. An opportunity that remains. Not all credit institutions work according to the same regulations. The change of provider can change things.
Direct banks don’t just work with lower interest rates than many other providers. Your financial products and approval criteria differ significantly from traditional offers. An online loan application can provide clarity quickly and without red tape. After a loan has been rejected, at least a particularly good credit rating cannot be assumed. Therefore, interest should turn to non-credit fixed rate loans.
If a small loan up to around 5,000 USD is sufficient, this is very advantageous. Small loans are approved in the simplified test procedure. The online loan application should now be “fed” with the truthful data. The online credit check, which immediately follows the application, evaluates the application according to the real credit requirements.
It is not uncommon for the first provider to approve the loan despite rejection. However, if the preliminary loan approval does not appear in the results window, then a change of provider should take place again.
In addition to the help of a reputable credit broker, private credit can solve the problem. Contact with private donors is straightforward. Various portals in Germany offer this service. The publication fee of around 10 USD may be seen as a downer. But the realistic chance of getting a loan should be worth the investment.
The approval procedure roughly corresponds to an internet auction. Small investors inform themselves about the published loan request and can bid on it. The bids are now collected. If there are sufficient bids and have been confirmed by the borrower, the loan is approved despite the rejection and ready for disbursement.