Any citizen who at least once in his life took a loan from the bank, has a certain credit rating. The higher the credit rating indicator, the greater the chance there is a borrower for approval of the application and obtaining more favorable conditions in the future.
If a citizen systematically admits a delay, then its credit rating decreases, and in the future, the bank will consider it irresponsible and unreliable.
Timely payment is not the key of good credit rating indicators. If a citizen has several acting loans in his arsenal, but pays properly, the bank can still refuse a new loan due to a high debt load, which also reduces the rating.
The delay may occur based on two situations:
The solution of the first problem will depend only on you. It is necessary to approach this issue more responsibly, and still start paying for a loan. Not to say that the process will be rapid, but so you can restore the confidence of the bank, and in the future to get approval for a new loan.
If you can solve the first problem yourself, then for the second you need a lender that has been received a loan. If your income fell, and you cannot serve a loan, then provide the relevant documents to the bank confirming this, and it will help you solve the problem.
Often, financial institutions equate such borrowers to unreliable. That is, for them borrowers who have never taken a loan from the bank, and borrowers who have several overdue and low credit rating are equal. This is due to the fact that the zero credit history for the lender as a blank sheet of paper. He cannot appreciate the good faith of your actions and your responsibility towards credit obligations.
This situation can be fixed in several ways:
If you have 2-3 credits, then your credit load level can be quite high. This criterion, one way or another, affects the credit rating indicator, and significantly reduces it.
The refinancing procedure will help to cope with the current problem. This is a service for providing a new loan, the purpose of which is to repay existing credit obligations.
It’s important to know!
Thus, increase credit rating indicators — real. The main rule is to make monthly payments on time. Without them, any scheme of action will be unsuccessful for you.