Consolidated loan – when you can not get it?



Consolidated loans are obtained for various purposes. Many people opt for consumer consolidated loans that allow them to allocate financial resources for any purpose. On the other hand, popular Consolidated loans also include mortgage Consolidated loans that allow you to provide financial resources that you can spend on the purchase of an apartment or house.


You can not always get a Consolidated loan. The basic credit problems can be attributed to bad credit history. A bad credit history is recorded as part of BIK and concerns cooperation with banks in terms of repaying financial liabilities.

The BIK contains information on various unpaid liabilities or late payments, including bank Consolidated loans. Particularly negatively perceived are those liabilities that have been repaid, but were collected or subjected to execution by the bailiff.

Then, such an entry usually does not allow obtaining a bank Consolidated loan. Of course, much also depends on how old is such an entry or what is the financial situation of the person applying for a Consolidated loan. In general, entries in the BIK are kept for several years, which applies to both positive and negative entries.

No credit history

Another problem that particularly affects new borrowers is the lack of credit history.

For banks, such a client also does not have much credibility. Of course, in the case of a very good financial situation, a lack of credit history may not be very negative. However, even those earning average financial resources may have a serious problem when borrowing. In this case, it is worth taking care to build a credit history.

A positive credit history can be built by deciding on short-term Consolidated loans, which are much easier to obtain even if there is no credit history. You can talk here especially about installment Consolidated loans. You can also decide on credit cards, where you can build a credit history by regularly paying off your credit card obligations.


Low creditworthiness is also a common problem when applying for Consolidated loans . Credit history affects creditworthiness. However, even in the case of a good credit history, low incomes can make it impossible to get a Consolidated loan.

However, it is important, among other things, for what period you want to borrow funds and how much you want to borrow. The bank may refuse to grant a Consolidated loan in a specified amount or for a specified period due to inadequate creditworthiness. In this case, you can always try to negotiate with a bank that can give less credit with a given credit rating.

You can also decide to secure the Consolidated loan through the lenders who will guarantee the Consolidated loan or by establishing a mortgage on the property. Yet another solution is to use the help of financial advisors, which allows you to ensure matching of Consolidated loan products in terms of the possibility of obtaining them.

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