How to remedy excessive debt after loan rejection?

Colleague B: "Looking for a bank loan"

Passerby C: "I am heavily in debt and my relatives refuse to borrow it. I really can't help it? "

Indeed, many people get rich through loans now. They have cars, houses and daughters-in-law, but many people are turned away from applying for loans again because of excessive consumption in advance and heavy debts.

Personal debt ratio = total debt/total income * 100%.

Under normal circumstances, the personal debt ratio exceeds 70%, and all banks will basically refuse to lend; More than 60%, there is a high probability of refusing to lend.

Usually, when the personal debt ratio exceeds 50%, it will be considered as high debt. Some loose financial institutions have a debt ratio of around 70%, but once they exceed the red line, it is difficult to get loans.

Regarding credit reporting, many people have a misunderstanding that as long as it is not overdue, it means that their credit reporting is good. In fact, the "high debt" of credit information will also affect your personal credit! Credit rating and debt ratio are two important indicators in loan approval, which correspond to the applicant's repayment willingness and repayment ability respectively. Whether it is a bad credit rating or too much debt, the loan may be rejected.

If a person's debt is too high, then he will have more debts to repay, and correspondingly, the risk of overdue repayment or even bad debts will be higher, so banks are reluctant to provide further credit services to people with excessive debt ratio.

The "high debt" of credit information will not only affect the approval of your mortgage and other loans, but also affect all aspects of credit cards.

So, how can we improve the over-lending rate?

First, clean up your credit card.

When issuing credit cards, banks will consider the applicant's total credit limit to avoid excessive credit granting.

If your credit report shows too many cards, the bank will think that your debt ratio is too high, your actual financial ability does not match your repayment ability, and there is a certain repayment risk.

In addition, dual-currency cards or multi-currency cards generally show multiple accounts on the credit report. If you have this type of card, but the demand in consumption abroad or Haitao is relatively small, you'd better change this card into a single-currency card, which can effectively reduce the number of accounts and the debt ratio.

Two. instalment repayment

If the amount of a single loan or a single credit card debt is relatively large, you can choose to repay by installments.

For example, Xiaoming has a debt of 300,000, and the credit report shows 300,000. However, if he divides the 300,000 yuan into several installments, the amount of debt shown in the credit report is 30/n(n stands for monthly installments).

In this way, high debt becomes low debt.

Three. advance payment

Early repayment can reduce the amount of debt in the credit report. Before applying for a credit card or loan, you can try to pay the last month's bill.

For example, if you pay the bill on the 22nd, you can repay it on the 20th two days in advance, and then brush it out on the 24th. You only need to cash it for four days, but what you get in return is the "debt level" that looks good in the credit report. Why not?

If you are going to apply for large loans such as mortgages, try not to apply for credit cards or online loans frequently within six months.

Sometimes even if you just click to view the quota, you may leave a query record, and it is easy to "spend" the credit information. When the bank sees so many application records, it will think that you are in too much debt.

Four. Provide collateral

If you have real estate, automobile production, large insurance policies and other assets in your name, you can choose to apply for a mortgage loan. The over-lending rate will increase a lot. The key is that the amount is higher and the interest is lower, which is a good match for borrowers with excessive debts! However, it should be noted that when the overdue period is serious, the mortgaged property is very likely to be auctioned!

Related Q&A: Poor credit reporting and high debt. Where can I get the first loan? Find a commercial bank or a small loan institution that requires easing. Some commercial banks and small loan companies have a high tolerance for debt, and there is room for lending within 70%. You may wish to try it. Second, handle credit card installment. High debt will affect the loan application and loan amount. If the large bills are divided into cash installments, the monthly repayment amount will be reduced, which will inevitably reduce the debt ratio; Third, applying for mortgage loan, with high-quality collateral endorsement, the loan application will be very easy to be approved. Hello, there are many platforms that can provide small loans, and the amount is basically between 5 million and 300,000. You can apply through banks and online loans. Although the amount of microfinance is lower than other loans, it is very popular because of its fast lending and flexible lending. As long as you choose a regular big platform, and the security of funds and information is guaranteed, you can use it with confidence. Recommended money flower, formerly known as "Baidu money flower", is a credit brand of Xiaoman Finance. Provide users with safe, convenient, unsecured and unsecured credit services. If you borrow money, you can go to Xiaoman Financial APP (click on the official calculation). Money is easy to borrow and the daily interest rate is as low as 0.02%. It has the characteristics of simple application, low interest rate, fast loan, flexible loan repayment, transparent interest rate and strong security. I would like to share with you the application conditions for consuming products with money: it is mainly divided into two parts: age requirements and information requirements. 1. Age requirement: 18-55 years old. Special note: if you have money to spend, you refuse to provide college students with consumer installment loans. If you are a college student, please give up the application. Information requirements: You need to provide your second-generation ID card and your debit card during the application process. Note: the application only supports debit cards, and the application card is also your loan bank card. My identity information needs to be the second-generation ID card information, and cannot be processed with temporary id card, expired ID cards or first-generation ID cards. As a personal credit ID card, the function of credit investigation is self-evident. However, many people cut off their credit information because they didn't pay attention before, and now they want to apply for credit business, so they are more worried: how can they get a loan if the credit information is not good? Let's talk about it briefly. How to get a loan for credit information 1. How to borrow money for poor credit reporting? 1. credit loan: it is difficult to apply for a credit loan if the credit information is not good, but it is not impossible. The most important thing is to find out the reason of "bad credit reporting", whether it is overdue or too many inquiries, or too much debt. There is also hope. Find out the reasons and then solve them in a targeted way, and then improve the credit information for a period of time before applying for credit. 2. Mortgage loan: mainly focus on the value and ownership of collateral. As long as it is not very serious, such as bad debts, compensation, "three consecutive" and so on, it is still relatively easy to pass. 3. Secured loan: If your credit information is poor, you should find a "reliable" guarantor. Of course, the other party must have excellent credit conditions, otherwise you can't be a guarantor. Using a guarantor to share risks and responsibilities, financial institutions will be relatively reassured and willing to approve funds. Second, how to improve the credit information difference? 1. Solve the overdue: No matter the current overdue or compensation, as long as it is not solved, this bad record will always be kept, and you can't escape if you want to escape. 2. Reduce debt: High debt with insufficient solvency is very dangerous. You can pay off the small loan first and cancel the unused credit card. 3. Don't arbitrarily authorize: Don't arbitrarily authorize financial institutions to inquire about credit information, otherwise it will be very troublesome to spend. The above is the introduction of Xi Cai Jun. Related Q&A: There are too many debts in online loans. How can I get ashore? At the peak of my online loan debt, there were more than 50 loans to be repaid. It is estimated that I have visited all the online loan companies with names and without names, but there are too many debts to pay back. I haven't paid back the money for two years. At that time, I was urged by my master to return to my master, and Xixi was urged to return to the west. There is no definite plan, the money is still there. However, I feel that the total amount has not decreased, and I was forced to pay it off after landing.

At that time, money was badly needed to start a business, and people around me went to apply online one by one if they couldn't borrow it from me. After payment, they recommended other platforms to fill in the information for me.

In this way, a family of five * * * opened nearly 10 stores, which dropped by more than 500,000. Each store has different stages, including 36 issues and 24 issues, and also has a quota of 29,000.

Before the money arrives, the platform deducts the interest of the current month and the down payment, and the rest arrives. After the centralized payment expires, only the first payment will be more than 20 thousand, and it will never stop. So I embarked on the road of supporting loans with loans, and then I set up 3.5 credit companies and ran all the credit branches, big and small, until I failed to enter the audit.

I remember that at that time, I borrowed less than 700,000 principal of these loans, and paid back the interest for more than one year, and it was almost 500,000 after the installment. Finally, I owed them more than 500 thousand yuan, which was really not enough. I still needed living expenses, so I found a seven-day loan. I borrowed hundreds of short-term loans, less than 30 thousand, and finally I continued to raise loans with loans, amounting to more than 5 thousand per family

Looking at such a big hole, I was particularly scared, so I locked myself at home all day, thinking that I couldn't see anyone else, so I forgot it.

When the debt broke out, the phone couldn't stop, calling 24 hours a day, and colleagues and friends who contacted more in the address book were harassed.

Later, everyone in my husband's village knew that I owed a lot of debts outside, and the phone called his village Committee, and his father felt very embarrassed.

The Spring Festival is coming, and his grandfather received my lawyer's letter, saying that he had sued me and asked me to go to Nanchang, Jiangxi for trial.

In the end, I don't care about all the debts, because I can't pay them back, but I don't want to default.

My husband looked at me sadly and my hair turned white. Then he discussed with my parents at home and begged them to help me collect some money to pay off my debts, which is better than next year.

Because the seven-day loan interest is too high, the principal is less than 654.38+ million, and the interest has rolled by more than 654.38+ million. Finally, the village head came forward to call these online loan companies for collection, read the contract through WeChat and repay the principal. Before the Chinese New Year that year, my husband's family helped me settle the seven-day loan.

Although the credit still owes more than 500 thousand, the principal is less than 200 thousand. After three years' delay, I opened the cell phone number I borrowed before. Unexpectedly, three years later, they are still looking for me.

Then I figured out how to negotiate in stages, so I answered the phone and paid back the principals of the three companies one after another. They gave me a certificate of settlement.

In the end, several families never called me, but they all told me by text that it was time to repay the loan. I don't care if the number starting with 400 is transferred.

At the beginning of 2020, I found that I was sued by one of the letters, and it was enforced. I contacted the person in charge through litigation. I owed less than 28,000 principal and lost the contract, but I was awarded a repayment fee of 46,000 through the court.

At that time, I thought this way was unfair, so I delayed it for three months. Boy, although the lawsuit was settled, I went to the referee's online to check, and the interest was still increasing every day, reaching 48 thousand. Later, as the Chinese New Year approached, the court also asked for a settlement rate. When contacting me, I confessed my repayment ability and plan. Finally, the other party refused to wait, so I settled the principal and dropped the lawsuit.

Although all the online loans were paid off four years later, my credit information system was clean and I could never come back. The above is my personal experience, and I will share it with you for reference. Everyone has different reasons for overdue, different debts and different family economic ability. We can only choose the appropriate solution through the lessons of others. We are always good at setting our eyes on the distance, running towards our goals, wanting to grow and succeed. In fact, we can learn to deal with one ordinary little thing after another, which is also the same learning and growth. * * * Encourage!