Consolidation loans are very popular among Poles. They undoubtedly have their advantages, such as:
- One installment instead of several or a dozen
- Lower installment amount
- Debt spread over a longer period
- Lower interest rate per annum
The conversion of several or several loan commitments into one is a tempting vision of dealing with your debts. But what if banks refuse to consolidate us? Where to go for help? Finally, do they have difficult loans?
When there is a refusal, it is worth turning to a specialist who will help find a way out of the given situation. The difficulty, which turns out to be a large number of questions, whether loans are the most overcome for a professional advisor or credit broker.
A difficult loan resulting from a large number of payday loans
Many customers are refused a loan because of having payday loans. Some of the banks include payday installments. What does it mean? Let’s try the example:
Ewa, she pays a bank installment of $ 300 on 2 small loans. He works on a contract of employment, net income of $ 2,100. She had to save for two loans due to temporary health problems. First for $ 3,000 for 12 months, with an installment of $ 450. The second is payday pay, $ 2,000 to be given back after 2500.
Ewa’s bank includes payday installment, i.e. bank installments $ 300 plus loan installment $ 450 plus $ 2,500 loan. How does this relate to income? 3250 $ installment up to 2100 income. Banks operate systemically and by detecting such a high installment compared to income they effectively refuse a loan.
In such situations it is good to turn to a professional advisor or credit broker. The knowledge of such a person will allow you to choose a bank that is not having a problem with payday loans. I will exchange all installments of Example Ewa, for one maximum of $ 400 per month.
Difficult loan resulting from the ending contract with the employer
Today’s labor market is characterized by a high percentage of fixed-term contracts. Banks are well aware of this and are trying to meet this state of affairs. Nevertheless, not every bank will accept a client whose employment contract expires e.g. in 4 months.
Banks have different ranges of their clients’ work periods. Some credit only for the duration of the contract with the employer, others add a dozen or so months after completion, and for others it does not matter, or they ask the client for seniority and previous contracts. If you meet with the refusal at the bank in which we asked, it is definitely worth seeking professional help, e.g. consultants in Puss in Boots
Difficult credit resulting from the spouse’s disagreement
Customers with good income, good credit standing and excellent scoring may also be denied credit. Why?
No consent of the spouse. It happens many times that the person we live with does not want to participate in our debts. Despite marriage, we have separate budgets and the costs are borne by everyone equally.
Another case is married couples who are separated and have no divorce. Then nobody is interested in the material situation of the other person, but it is a limitation.
Most banks introduce limits, you can receive up to $ 20-30 thousand. Above this amount, the consent of the spouse is required and we are not interested in the fact that you do not live together, you have separation.
Brokers from Puss in Boots meet this situation, thanks to cooperation with banks it is possible to properly justify the client’s situation and the bank’s consent to the client’s individual approach, without the consent of the spouse. Loans received by customers are up to $ 240,000.
Difficult credit resulting from the lack of confirmation by the employer
Another case that we often deal with are clients working in larger reliable companies, but unable to get loans because they have no confirmation of the employer’s phone number. Some banks have artificial requirements. Transfers from an employer or a certificate are not enough for them. They definitely want to confirm the fact of employment by phone.
Customers don’t know what to do then. Despite the good situation, there is a problem. Therefore, a large group of our clients are people who employers are not able to confirm income by phone. Thanks to close cooperation with banks, we only need the last 3 transfers from the employer, without the banks having to make phone calls to companies.