Parabanks overwhelm us with opportunities to take advantage of so-called easy money. Loans without BIK , loans without KRD or loans on evidence are just a few that could be mentioned. However, it turns out that not everyone can get a loan as proof. Of course, rejection of the application occurs sporadically, but it still happens. Usually, the reason is quite trivial. The borrower’s verification does not proceed in a standard way.
Parabanks declare that loans can be obtained by indebted persons, students, retirees or single mothers. Loans are directed to various social groups.
BIK – do they check or not?
This is one of the most troubling questions for all people applying for a loan. Internet forums are packed with content on the subject. But how is this in practice? Banks and Cooperative Savings and Credit Unions are institutions that use BIK.
Parabanks or non-bank loan companies simply do not have the right to check the customer in the Credit Information Bureau. It does not mean at the same time that without checking they transfer cash to the customer’s account and it’s ready. Private blacklists are available to private lenders, such as the National Debt Register or the Economic Information Bureau.
Thus, an unpaid fine and other unpaid obligations may result in the loan application being rejected. With some banks it is different, one will reject the application and the other may not take our commitments into account and grant a loan. The most popular online lender is Livus, which is regularly praised for having a large percentage of acceptable applications.
Parabank also sets the conditions
Each lending company determines the age ranges in which a potential customer should fall. Most often it is 20 to 75 years, which does not mean that an eighteen-year-old will not find an offer for himself. Before applying for a loan, it is worth having a look at the regulations of the given bank pair – most likely it will contain all the guidelines regarding the borrower.
A must when applying for a loan is having Polish citizenship, as well as having an online bank account, which is important in your own name. This is a way of verifying our person through a parabank. Most often you need to send a symbolic penny from your account so that the lender can identify us.
Check the entered data several times
It may seem quite trivial, but the reason for rejecting the borrower’s application may be even one small typo. Often in the run up we confuse the letters and instead of the name Nowak we get Noawk. The effect is that the data do not match those on the bank account and our application is rejected.
According to statistics, this is one of the most common reasons for rejection of applications by online institutions. The plethora of responsibilities means that we do not focus attention on the details, which is why we write quickly, chase time, confuse PESEL number, or enter the wrong house number. All this can be the basis for rejecting the application.
It is therefore worth reviewing the data we have entered several times before sending the application. It will take a little more time, but we will avoid unnecessary stress and nerves.
Loan amount too high
If you are applying for a loan that is too high, you may also be surprised to get a refusal. Payday loans are quick online loans that are usually granted for 30 days. The size of benefits is also usually standard. New customers can usually apply for between three hundred and one thousand and five hundred dollars.
The system usually blocks the amounts that are not available to us, but it doesn’t hurt to check how much money we can borrow the first time.
Loan applications are usually processed very quickly. By default, a pair of banks need about fifteen minutes to give us an answer. After all, the express situation is another plus of payday loans. If for some reason the application was rejected, it is worth asking what the reason was. And what could happen an unfortunate mistake, a simple typo, a small mistake.
In this situation, you can always unscrew the error.
It is increasingly heard that the Association of Loan Companies is striving to create a database containing a list of dishonest clients. All this to improve the verification of people applying for an online loan.