At the moment, a significant number of residents in our country have a large credit load. In this case, a situation may arise when, in the presence of existing debts, you need to get another loan. How to do this without failure? Consider several options.
What is the credit load?
To put it in simple words, without complicated economic terms, this is the number of obligations per borrower. That is, what part of their income a person will pay monthly to pay off debts?
And remember!!! Before you take out a loan, think 10 times and apply once. Carefully read the terms of the contract, today if you are offered a loan with a rate of over 20% – this is an obvious robbery. Look for the best deals. They are, they must be sought. And do not forget to read this note before submitting applications: When can I take a loan, and when can I not take it? , it will help you not to make serious mistakes!
Let us remind our readers that, according to the current legislation, loans should take no more than 40-50% of the monthly income of one person. In this case, only official revenues are taken into account, i.e. those that you can document.
For example, your salary is equal to 20.000 rubles. Under this condition, you can take a loan with a monthly payment that does not exceed 10,000 rubles. Ie, for example, you can count on a loan of 100 thousand, but in 200 thousand already, most likely, the refusal will come.
It is the client’s solvency that is fundamental to banks. They really do not care how many loans you have – 1, 2, 3 or more, the most important thing is that your income can cover these costs.
How do banking companies find out how much debt you have? Everything is very simple: at the stage of consideration of your application, they always send a request to the BKI with which they work, and from there they receive complete information about what loans you have now and were in the past, how repayment happens – with or without arrears, what you have obligations other than loans (utilities, alimony, etc.).
Why refuse because of the credit load?
The answer to this question we gave a little higher – because of the current legislation. If the borrower already pays half of his salary to pay off existing debts, he will not be able to approve another one.
And this is quite logical because in this situation there will be a high probability that the loan will not be paid on time. A person will simply wallow in a debt trap; he will have nothing to pay for his debts.
That is why financial companies prefer not to take risks, but simply to refuse such borrowers. Or, offer him to get a small amount at very high-interest rates, which can cover the possible risks.
Are there banks that will approve a loan 100%? Are there companies that give money without refusal? It is these questions that we very often receive from our readers, and the answer here is one – no, there are no such banks and for detailed answer click here.
Each financial institution has only one goal of its activity – obtaining maximum profit. That is why absolutely all banks check their potential customers, evaluate them, and request CIs. And each new appeal will be considered on an individual basis, and no one can guarantee you approval, because the decision is made by an automated system, and not by a specific employee.