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What To Do If Your Loan Application Gets Rejected?
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[QUOTE="Abigael, post: 213346, member: 25357"] Getting your loan application rejected is truly one thing that happens a lot. This is because of so many reasons. If it happens to you, your first move should be finding out what was the reason for the rejection. Which can fall under instances such as; 1. Having a negative credit history. 2. Not having proper or all documents needed. 3. Not having enough proof of ability pay back the loan. 4. Your collateral may not be good enough for the loan you are taking. After finding out the reason for your rejection, you can find out if there is anything you can do to change the situation. Things like not having enough documentation can be changed by looking for the documents needed and presenting them. Also, you can choose a better collateral if that is the case. And you can show the loan lending institution your other assets like an established business you have to proof to them that you are able to pay back the loan. On some occasions like having a negative credit history. There is pretty much nothing that you can do to convince the company to lend you money. Therefore, you should be flexible enough to let it go and look for other sources of the money you need. You can take up a new job or sell something that you don't use anymore. [/QUOTE]
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What To Do If Your Loan Application Gets Rejected?
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