If you want to take out a consumer loan, then it is important to do everything you can to get approved. There are not so great demands on you as a consumer, but there will always be some criteria you have to live up to.
We give you some good advice along the way, so you can avoid having to refuse your loan application. Then, hopefully, you are better equipped when you have to submit applications and you increase your likelihood of being approved for a good and cheap consumer loan.
5 tips to avoid loan refunds
- Avoid small errors and typos . A spelling error in your email address, a name without a big letter, an incorrect address … All these things can cause your loan application to be automatically rejected. The fact that spelling and personal information is in control makes you act as a serious applicant and you will increase the likelihood of being taken into consideration for a consumer loan.
- Do not provide incorrect information! It may be tempting to enter a higher income or the like to get better terms on a consumer loan. But you must never do that. The companies have access to a large number of registers and the like where they can check your information. Therefore, it is of no use to decorate the truth, and you may as well be honest in the first place. If the information is not correct then you can be sure that you receive a clear rejection from the company.
- Always apply from several loan companies . There is the great advantage of online consumer loans that it is both easy, fast, free and completely non-binding to apply. You can apply online in no time, and the application is never binding in any way. You can always apply with several and it gives you more benefits. You increase the likelihood of being approved, and at the same time you have more to choose from so you can choose the best deal.
- Check the application criteria carefully . It is a waste of time to apply to a company where you cannot meet the application criteria. This can be, for example, requirements for age, residence or income. Therefore, always check the requirements for you as an applicant, so that you avoid sending an application that is automatically rejected. It’s a waste of time and effort, and you don’t get it out of it.
- Strengthen your personal finances . With a strong economy you have the opportunity to be approved by several companies, and at the same time you will be able to get some better terms and a lower interest rate. For example, you can try to increase your income through overtime or an extra job, or you can save before applying. You also have the opportunity to search together with someone else, so it is your common income that counts.
Low income and RKI make it difficult
At the vast majority of companies you will be rejected if you are registered in the Debtor Register or RKI. The companies do not want to lend to people who already have bad debts. Therefore, if you are registered in one of these registers, your options will be severely restricted.
A low income also gives you poorer conditions and will either mean that you get a very high interest rate or that you do not have the opportunity to borrow at all. The higher the income, the better the credit rating and the more possible alternatives. Therefore, it may be worthwhile to try to increase your income if you want to take up an online consumer loan.