To be refused a credit request and then suddenly accepted is necessarily very disconcerting. Indeed, this may seem unfair to you and yet there is nothing illegal about it.
Whether it is a bank or a financial organization, it is a very common practice. And generally, the first opinion it gives is an opinion in principle before a final and final decision on whether or not to grant credit. Explanation attempts.
What are the different stages of acquiring credit?
For a consumer loan or a mortgage, it is quite possible that your loan is initially refused and then accepted. The reverse is also possible. To avoid this emotional lift, it is useful to follow a few recommendations. It is, therefore, better to put all the advantages on its side before submitting a credit application.
In order to have convincing answers on the reasons for refusal or the granting of credit, it is useful to know the inner workings of the processing of the credit request.
If we summarize in a simple way: filling in a questionnaire, obtaining an immediate response in principle, receiving a prior offer in the event of a first agreement. There you have the first phases.
Then, if you do not dispute the contract, you proceed to its filling and its ratification, you return the file including the duly completed and signed contract as well as the supporting documents to the bank or the financial organization. After validation of the contract by the stakeholders as well as validation of the supporting documents, the loan company can finally pay the money into the applicant’s account. Isn’t it simple?
What do the first and second decisions mean when applying for credit?
Generally, the first decision corresponds above all to an agreement in principle or favorable opinion. If you request it online, it is quickly given via a phone call by a financial advisor. On the other hand, if you receive an answer to the style “file understudy” or “in-depth study” it is that there is something wrong with your file. This may mean that your request has been refused from the start of the proceedings.
The second answer you get is often the most incomprehensible. In fact, to give you its final answer, the bank will carefully study the contract that you signed and returned. The financiers will be extremely meticulous (the veracity of the information, signature in the places indicated.)
So in summary, to avoid having a loan accepted then refused, be extremely picky when you go to prepare your application. Keep the writing as clear and legible as possible. It is also very important to date and signs the contract in the places provided for this purpose without erasing. Above all, be honest.
Your request will be subject to verification thanks to the supporting documents you will provide. If you lie, this would only add additional problems to your case. And that’s not what you want at all right?