Applying for personal credit with bank problems may not be facilitated by financial institutions, but is not always denied to consumers. Find out how it is possible to apply for a loan under these conditions and how to avoid default.
If you currently have difficulty repaying your monthly installments of your credits – either from the loan you made to buy a car or to take that dream vacation – contact the financial institution with which you have the financing. As a bank customer you are entitled to protection in default situations.
Another option is credit consolidation. If you have multiple loans in one or more institutions, you can merge them all into one, which will allow you to extend the repayment term and consequently get a lower monthly repayment. However, note that the total cost of credit (MTIC) may increase.
But how do banks know about banking problems?
Prior to approving a loan, banks make a risk analysis of the customer and, based on the outcome, decide whether or not to borrow the amount requested.
Within this analysis is evaluated the financial behavior of the consumer. The more fulfilling you are, that is, if you pay the monthly installments on the agreed date and have never had bank problems, the most likely the financial institution will lend you the money you need.
In addition to the regularity of credit payments, financial institutions also analyze their banking movements in recent months. This is because, if risky behavior is detected – such as regular withdrawals from a casino, which may anticipate some gambling addiction – the loan may be rejected.
To understand if the customer has financial problems, financial institutions use the so-called Marias Bank Credit Responsibility Center (CRC), which aggregates in the Credit Responsibility Map (MRC) all past and current credit held by a customer.
The Credit Responsibility Map is accessible by banks, but also by the customer himself. To gain access to yours, just watch this video and follow the six steps below:
How to apply for personal credit with bank problems?
When a consumer with bank problems considers applying for a loan, it is normal for him to automatically receive a negative response from the financial institution.
If you try to apply for a personal loan under these conditions, what the credit institution will do is demand a mortgage guarantee in order to be sure that the amount you will lend to it will be repaid.
How to avoid having banking problems in the future?
The first step in avoiding future bank problems is to control your personal finances and to be able to understand when you are having difficulty repaying your credits.
Therefore, you should do an introspection. Analyze your effort rate, as if it exceeds 33% you could risk defaulting. If this is the case, talk to your bank and try to renegotiate the financing in question.
If you have a mortgage loan whose monthly installment is unbalancing your monthly budget, you may choose to transfer the loan, as doing so may achieve a more competitive spread and thus reducing the amount you pay each month.
On the other hand, if you have several loans with different monthly installments that are charged to you on different dates, it may be advantageous for you to combine all these credits into one. This will only allow you to pay a lower monthly fee and may extend the payment period.
The options are diverse, so you should not discard any. Otherwise you may even default and be in a more delicate position that in the future will not allow you to apply for personal credit with bank problems.
In this situation you can resort to the PERSI (Extrajudicial Procedure for Settlement of Defaults) – an agreement with the bank to settle debts – or even ask for help from the Marias Bank’s RACE (Indebted Customer Support Network).