How to know if I am granted a personal loan

Personal and rapid loans

Personal and rapid loans

The modality of personal and rapid loans has been gaining strength during the last years, and the entities that provide these services have been adapting to the daily needs, making the procedures faster and faster and losing less time. Market investigations and in the sending of documents. However, despite the great facilities available to these data verification systems, it is still not possible to accredit all users and often overcomes the frustration of not having approved a loan that we urgently needed.

The truth is that there is no single way to determine if you are a person who can aspire to private loans, but there are several strategies you can develop in order to better understand how credit systems work, what requirements you must present and what are the best ways to conduct a market search for a credit product.

The first thing you should keep in mind is that in order for you to be legally able to lend money, you must be of legal age. However, according to the agency providing these services, the 18 years are not enough for you to be part of the target audience and in some cases they will ask you to be 21 years old or even 25 years old to be able to access their loans. In the same way we can find a maximum age after which most credit agencies will not grant us any type of pestano. This age is 65 or in some institutions even 70, and if we are outside this margin we will find many difficulties to access the loans, so we can be sure that we will not have possibilities of being accepted.

Now, once the age range is within the parameters requested it will be important to understand that there is another great variety of criteria that for some agencies are indispensable while for others they are simply optional. Such is the case of being reported on a list of defaulters such as Financial Credit Institutions, in which they evaluate our credit performance over the last few years. For some agencies this is a central pillar, since it talks about your commitment to payments and if you are reported in any of these entities you will be rejected immediately. However, this is not always the case, for example when it comes to loans with mortgage guarantees we are talking about a completely different scenario. In this case, it is not our history that supports our ability to pay, but our own home is our commitment and we do not need to have a completely clean credit history but a property in our name.

In that sense, the most important thing to know if we will receive approval or not regarding a particular loan is just the right choice of our credit agency. In this way it is more likely to approach our needs as much as possible and be satisfied with the conditions. Another of the most common requirements at the moment of requesting a particular loan is that of having a job or a fixed job, in such a way that you have guaranteed a constant income and income. Unemployment or informal work with irregular earnings can generate from the beginning that the Instantor verifier rejects our profile.