A Consolidation Loan Without Creditworthiness? – Online Consolidation
A consolidation loan without creditworthiness?
Creditworthiness determines our debt repayment options. So, the lower it is, the lower the chance of getting a loan. Banks, without exception, check the creditworthiness of their clients. This is because they have to consider whether there is a credit risk if the client offers funds to implement the plans. Since the bank obviously does not want such a risk, it usually rejects the applications of people whose creditworthiness does not meet the criteria set by the bank. The case also concerns consolidation loans. At the moment, no consolidation loan without creditworthiness is found in any of the banks’ offers.
As it was initially included in a short sentence, our creditworthiness is a determinant of the repayment capacity of a financial liability. In assessing the ability of bank analysts, they take into account:
- our current income, it can be a remuneration for a contract of employment, for a specific work, for running your own business or for a retirement or pension
- Income earned outside the country – some banks agree to this kind of income
- monthly fixed expenses – ie how much the borrower spends on average for himself and his family; as a rule, monthly payments are taken into account, including repayment of debt
- number of family members – the borrower must provide information on the number of family members he / she maintains
- earnings of a person living with a borrower who runs a household with him – there is an option to take advantage of a consolidation loan together with a close relative, eg a spouse, which increases the client’s creditworthiness
If we find a consolidation loan offer on the internet without checking creditworthiness, we should be especially careful, as it may be a company with dubious reputation. Then it is always worth going to the website of the Polish Financial Supervision Authority and check if it has been entered on the list of KNF warnings.