Do you find yourself repeatedly rejecting your payday payday loan applications? In this case, you will – with a guarantee – know the reason why you are regularly denied your applications. There may be several reasons why an application will be rejected, but there are some reasons that go back more than others, which is why there is a chance that they are relevant to you.
If you keep getting your payday loan applications rejected
It can easily be something you go and are very frustrated with. However, this is no reason to waste time. Instead, you should find out what is the reason for your rejection of your applications. Below you will find some of the more frequent causes.
When is there a risk of being rejected?
You always get a credit rating when you need to take out a loan. Therefore, it is also in this context that you can get a rejection of your application. If it is considered that you are in a risk group, there is a low chance that you will not be approved for your application. You can if you are in a risk group if you…
Is registered in the BANA or the Debtor Register
If you are in one or both of these registers, you will be considered poor payer. You only end up in such a register if there is a creditor reporting you because you owe them money. Your debt must be just $ 1,000 before it is possible for a creditor to register as a poor payer in these two registers.
If you are in such a register, there is very little chance that you will be allowed to borrow money. Namely, there is a risk associated with lending money to someone who has already proven once (or maybe even more) that you are a poor payer. Therefore, there are also very few actors who lend money to people in BANA.
Have too low an income
When you need to apply for a quick loan, it is very normal for your lender to get an insight into your salary and finances. If you have a low income, then it is not possible for you to borrow money. However, it is very important if you have to borrow a large amount, as it is something that requires a higher income.
At many of the lenders you can find online, there are some fixed requirements for your income. If you can’t live up to these, then you have a very slim chance of being allowed to borrow money. Even if you have a low income, it is still possible to borrow money online, but you cannot borrow all amounts with a low income.
Therefore, there is a good likelihood that you will be denied your loan application because you are in BANA or because you have too low an income.