News » air max womens ireland

Seeking Personal Loans With Bad Credit: Why Applications Are Rejected Finance Articles | June 7 air max womens ireland , 2013
Securing a personal loan with bad credit can be a challenge, and sometimes the application is rejected. The reasons why can vary, but knowing the main ones can help applicants put together winning applications.

There is no denying that the task of securing loans from traditional lenders has become harder than ever. In the current economic climate, and with the financial crises of the last few years still being overcome air max ireland , lenders are cautious about approving loan applications, especially personal loans, with bad credit. But it is possible to get the green light.

A key factor in successfully applying for a loan is to understand why the application might be rejected in advance of making your submission. Often, the reasons for loan rejection are simple enough to have been avoided in the first place air max tn mens ireland , and a little effort put into preparing the application could have proven worthwhile.

But what are the principal factors that lead lenders to reject an application? And what should a bad credit borrower do to avoid that fate when putting together the application for a personal loan?

The Truth About Bad Credit

It is important to establish just how significant a low credit scores is. Most people believe that, when seeking a personal loan with bad credit, the chances are approval are drastically reduced because the score is low. But this is not actually true.

Certainly, having a low credit score does not help the application process air max tn ireland , but there are far more significant factors at play when a lender assesses an application. The reasons for loan rejection are rooted in affordability, rather than any evaluation of your credit history. Therefore, the scores themselves are minor concerns.

Where the scores do have an impact is in the interest rate that is charged on the personal loan. Lenders will take the opportunity to charge higher rates when the score is low.

But what are the reasons that a lender will reject a loan application? Here are the 3 chief reasons.

1. Having No Credit Score

The problem with having no credit score at all is that lenders have no way of knowing whether the applicant can be trusted to make repayments or if they are going to default. At least anyone seeking a personal loan with bad credit scores has already indicated what the likelihood of either is.

Of course, it is possible to get a loan application approved air max 97 mens ireland , but a cosigner or collateral is usually needed to get the green light. Having no credit is one of the main reasons for loan rejection because the application on its own is not usually strong enough.

2. Offering No Collateral

Of course, having collateral to offer along with a personal loan application can be tricky too. Remember, the item offered must be the same value as the sum being borrowed, so a $5 air max 97 ireland ,000 loan requires collateral worth $5,000, and not everyone has something worth that amount.

Many types of items are acceptable as collateral, from family jewelry to cars to home equity. But with the exception of equity cheap nike air max 2018 ireland , all of these may depreciate during the loan term. A car, for example, may be only half the value after a 3-year loan so may only be accepted at its lowest value. So, finding suitable collateral when seeking a personal loan with bad credit is not easy.

3. Too Much Existing Debt

Finally nike air max 2018 ireland , the amount of debt that an applicant already has is a key reason for loan rejection. The lenders measure this through the debt-to-income ratio, which states no more than 40% of available income can be used to repay loans. If that means the personal loan is not affordable then rejection is certain; but if the monthly repayment fits within the limit, then approval is probable.
Article Tags: Personal Loans, Loan Rejection cheap air max 2018 ireland , Personal Loan, Loan Application


The leather piano benches are classified into the adjustable leather piano benches, common duet leather piano benches and double piano benches. The physical properties of the leather piano benches contribute to the growing demands on the bench. The height of the piano benches can be adjusted from 18 to 24 inches. It is fully padded and achieved maximum comfort and durability. The leather seat and the main seat is upholstered. Leather piano benches protect the musicians from muscle pains and spasms while playing in a longer period. It also rejects possible bad posture and back pains.


The second type of the leather piano bench is the common duet. These types of leather piano benches are made for studio instructions and musical performances. These have extra large storage for books and accessories. In the common duet, two pianists can play at the same time and sitting is still comfortable. Movements are freer while playing and posture are not destroyed. The pressure gained sitting on the leather piano benches is lesser than the pianist sitting on a rough and poor covered benches. It is to allow the pianists to sit longer intended on theatrical performances.