Thanks to several factors, securing loans to fund certain projects is a lot easier today. Some of these factors include the ease that the internet brings, the reliability of credit scores, and the dependability of tracking systems.

As a result of these factors and more, lån på dagen (loans on the day) is possible. In other words, borrowers do not have to wait endlessly hoping that their request for funds will be granted. Be that as it may, there are still certain things that can hurt a person’s chances of being granted loans.

Knowing these things will ensure that people avoid them to get their loans granted and even granted on time. Against this backdrop, some reasons why people’s loan applications do not go through will be discussed here. Ensure that you pay attention to avoid being in such a position.

Failure to File the Previous Year’s Tax Return

Although these creditors are in the business of offering loans with certain terms and conditions that benefit them, they are still cautious. This means that they need to be sure that borrowers are in a position to fulfill their obligation of paying as at when due.

To this end, they make findings and this would often lead them to your previously filed tax returns. For one, this is important for them because they would be certain you do not have issues with the law as regards paying your taxes.

Failure to file your tax return at the right time can affect your chances of getting your consumer loans granted. For this reason, you should not fail to file tax returns on time.

Other than this, you should make sure you have no issues with the tax authorities. If you do, ensure that you sort things out before you apply for a loan.

Address Registration Irregularities

Many people would think that this point is not enough reason why someone’s application would be denied. The truth is that it might even be overlooked if other things check out. But there is nothing wrong with making sure everything checks out (including your address).

If you have changed locations, make sure you update your address to reflect where you now live and/or even work. This is so that it does not hurt your application in any way.

Other than making sure your address is as recent as possible, some people do not even have any registered address. Just so you know, this is considered a red flag by some creditors and can hurt one’s application. So, make sure this is not the situation to increase your chances of being granted the credit you need.

Debt Collection Issues

There are several ways to become a debtor. The most commonly talked about way is taking out a loan and not paying back at the agreed time. You should do all reasonably possible to avoid this.

The reason is that this would paint you as someone that is not creditworthy and will even hurt your credit score. If you have problems paying back, you should seriously consider taking out a refinancing loan.

But you need to do the math and make sure it is the right thing to do. This is because there are situations in which even such is not a good idea. For more tips to help you know when taking out a refinance loan is a good idea or not, you can check out:

But asides from loans, you can have debt collection problems by refusing to pay fines. A parking ticket is a good example. If/when you are issued such, do all reasonably possible to sort it out on time. Do not take it for granted as all of such can affect your loan application process. This is on grounds of debt collection problems.

You should also make sure payments are confirmed. Some people have been discovered to make due payments but still have debt collection problems. More often than not, the problem has to do with a lack of confirmation. So, make sure whatever payments you make are confirmed by the right sources.

Incomplete Details

Some details will be requested of you when you are applying for consumer loans. You need to fill them thoroughly without leaving out anything.

For example, some people leave out some of their credit cards when filling in that section of their application. You should not do so. This is even if it is one that you barely use and have no debt problem with.

You should know that the financial system is interwoven. As a result, this might give the impression that you are shady having left out some details. You may therefore be denied as a result. So, make sure the details you fill in are complete.

The Amount You Are Applying for

Your credit score is one of the most important things that creditors consider before granting loans. However, other things are considered by creditors as well. Your track record of getting loans is one of them.

There may be doubts about giving a large amount to someone that has never taken such or even something close to that amount. While the credit score may be good, there are still doubts because of the track record.

So, you may want to do things bit by bit. This simply means taking out loans closer to that amount and paying before or on the due date.

Other than one’s history of taking out loans, income details are also considered. Someone with a low income compared to the loan being requested would likely be denied. So, work on your income source(s) first. You should also make sure the creditors are aware of all the income streams when applying.

You do not have a Token and BankID

Some details are usually considered sensitive to creditors and failure to have them can hurt your loan application process. A bankID happens to be one of such details.

For starters, make sure a security token is ordered. Afterward, contact the bank on how to go about getting your bankID. This might require making use of details on your passport even without showing up at the bank. For more information on how to get this done, you can click here.


You want your loan application to go through. As a result, you need to be aware of those things that can stand in the way of your loan being granted.

We have shed light on some of them here and you should do all possible to avoid them. This way, your chances of being granted your consumer loan are increased.

Leave a Reply

Your email address will not be published. Required fields are marked *