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To enjoy a favorable rate for a credit conso or to collect several loans, it can often be wise to request a buyback credit.
However, this redemption may be denied for several reasons. There are, however, many solutions that will allow you to benefit from a pool of credit.
Reasons for refusal of loan redemption
If your credit surrender has been denied, the first thing to do is to determine the reason (s) for the denial.
There are many reasons why an organization may refuse to apply for a loan consolidation. To do this, do not hesitate to ask your credit organization for a detailed explanation, in order to detect the causes of the refusal.
The latter is not obliged to satisfy your request. Here are some reasons that may lead to a refusal of your credit union:
- check in the Central Check File (FCC);
- high debt ratio: this rate reflects a financial situation that is too complicated;
- Filing with the National File of Payment Incidents (FICP): this file makes it possible to archive all the financial incidents of the individuals (problem of repayment of credit, situation of over-indebtedness, etc.);
- dispute with the banking organization;
- no satisfaction with the admission criteria: it should be noted that these criteria are not the same for all banks. This may relate to the professional situation of the redemption applicant, his age, his profession, etc.
It is also important to note that banking organizations will be inclined to refuse your application if you have a debt ratio higher than 33%.
So remember to determine your debt ratio before doing anything. The same is true if you are registered with the FICP, which is administered by the Francia bank and updated in real time by banks, courts and overindebtedness commissions.
It is however possible to leave this file with a loan consolidation under certain conditions.
How to find an organization after a refusal?
After a refusal of your credit redemption, all is not lost! The approach to be adopted, however, will depend on the reasons for the refusal.
If the reason for the refusal is an excessive debt ratio (over 33%), then you must first file a file with the over-indebtedness commission.
The latter will be able to propose a recovery plan.
Filed at the Francia bank
If you are rather stuck at the Francia bank, it is in this case necessary to regulate your financial situation.
As soon as the bank that issued the check will have received your refund, your name will be withdrawn within 1 to 2 months after the payment of your loans.
Solicit the services of a broker
Applying to an intermediary in banking operations (OIB) or broker is also an excellent initiative.
However, it is advisable to seek the services of a professional mandated by several organizations of repurchase of credit. This professional negotiating with financial institutions will be able to advise you in your various steps.
Renew your requests
Do not forget that a refusal to apply for a loan consolidation is never final because it depends on many criteria that may vary with time. In addition, not all banking organizations have the same validation criteria.
In addition, if your professional situation improves, you can again send your file to the same financial organizations or change. Your file is also more likely to be accepted if you have a permanent contract (permanent contract).
Remember that you can submit your credit redemption request several times, and especially avoid giving up at the first refusal.
Also, think about making a comparison of credit redemption organizations on our site, in order to determine who is best able to accept your file. If your criteria are rejected, continue to send your requests to other banking organizations.
Moreover, when you refuse to buy back a loan, you have no application fees and no additional charges to pay, in accordance with the MURCEF law. The settlement is done only when your application has been validated by the credit agency.
In short, if you have been denied a request for your credit redemption, do not lose hope. The aforementioned advice will certainly allow you to benefit from a credit redemption with a new credit organization, and why not from the same organization.
For example, the criteria for acceptance are not identical between the various financial institutions.
Also compete with our comparator and send your file to other brokers or agencies.
Highlight the elements that prove your creditworthiness (steady and regular cash flow, pensions, bonuses, etc.). You can also wait for a permanent job before representing your new application.