Signing up on a website or application to make payday loan online and having it approved is as difficult as riding a bicycle with the bent or kneaded wheel. Particularly if the person had a slip in the past. It may be that in the application process you run the risk of being rejected – but that depends on the mode of the loan.
How to not have your online payday loan approved
So if you have the pretense of starting a new process of applying for personal payday loan online, having little chance in your favor, then the four one: 1 – or you give up hiring; 2 – take loan with moneylender; 3 – accept to loan to negative with interest of up to 25%; 4 – or search for a type that fits your current profile.
If you determine that an online personal loan is the best solution to adjust your finances, it is important to borrow responsibly. This will help prevent you from falling into a debt cycle. However, before you start the process, make sure you take care to eliminate anything that might disrupt approval. In the list below you have some probable reasons that a loan can be rejected:
Divergence with your address
Banks and financial institutions get lots of information related to your name and CPF, one of them is the updated address. If you are one of those people who do not stop in any neighborhood, and your address is not up to date with the credit bureaus, it is very likely that your request will not be approved. In this case, all you can do is bring a voucher in your name.
You are not available for additional verification
When you apply for a personal loan, be sure to provide the lender with a contact number where you are available most of the time. If you are not located in the verification calls a few times or the phone does not hit the databases, your chances for approval may go down the drain.
You just changed jobs.
One of the most important factors for fast approval of an online personal loan is stability at work. A lender has more confidence to free up resources for anyone who is at least a year into your current job. Sometimes the minimum requirement is two or three years in the current employer.
As mentioned in the paragraph above, your financial stability is very important to lenders; if they find that you are working in a company that is not even a year old, they are also likely to reject your proposal.
You do not pay your bills at maturity
Remember that even a simple bill or invoice due and not paid that generated an annotation in Serasa or SPC may mean not approving your loan request. So before signing up and signing up for a personal loan, make sure there is nothing in your name or CPF that leaves you in the negative situation.
Your signature does not match
If you use more than one signature, be sure to use the most common form of signature on all pages of the physical contract or by the loan application. If you need to send physicals later, attach only the documents that have the same signature that you used in the online application.
You were guarantor or guarantor of a defaulter
Be cautious when you become a guarantor, guarantor or loaned the name to a friend or family member to make a purchase in the carnet, credit or financing, and if they did not pay, this will hurt your chances of getting a personal loan from most lenders online.
- If you are applying for a personal loan and have a dirty name, with a restriction on the CPF, look for creditors or modalities that provide credit for that profile.
- If you have a clean name and wish to take out a personal payday loan online, be aware of all the above tips so as not to be harmed and not have your application approved.
And, if it really is not possible to get your loan approved online, do not forget that you have other alternative ways to get a personal loan more easily and that do not involve banks, financial and bureaucratic means, consider borrowing from family or friends, with private lender, Peer-to-Peer Lending or even Crowdfunding (the famous kitty) depending on your situation.