Failure to pay alimony, housing and utilities, and communications can also affect your credit history if the case goes to court.
Over-indebtedness
Banks check the DTI (debt burden ratio) of each potential borrower. By law, it cannot be more than 50%. That is, up to 50% of your income must go towards all payments on all loans (including the one you are applying for). If the DTI is over 50%, you will be refused everywhere. This way, banks not only protect themselves from risks, but also comply with legal requirements.
Frequent requests
If you frequently apply for loans, it can damage your credit history. This behavior may signal financial difficulties.
Early repayment
This is not an obvious reason why refusals may come. Frequent use of early repayment does not please banks. But since there are no problems with solvency, they will not refuse everywhere.
Credit cards
A credit card is a special product for which the payment is shandong mobile number database constantly changing. When checking your credit history, you can only find out the credit limit, but not the amount of debt. If you have several cards with a high limit, your application may be rejected - even if you spend insignificant amounts.
Bankruptcy
People who have gone through bankruptcy cannot get a loan almost anywhere. A bankrupt person is required to report his status, and this information also goes to the credit bureau. Even if you do get approved, the terms will be very unfavorable.
If you have applied several times and have been rejected everywhere, you first need to understand the reason. Check your credit history - you can do this for free twice a year. Analyze the data and identify records that can be interpreted in a negative way.
Some records can be disputed, such as applications made in your name that you did not make. To dispute, you must file an application with the National Bureau of Credit Histories.