There are no legal proceedings against me, no declaration of insolvency, no ZEK codes, I have a job, and yet my application has been refused. Why?
You have a job with a good income, no declarations of insolvency, neither at the present time nor in the past? Therefore, your Visa Debit has a clean slate? You have never in your life had any other private credit and your credit cards are repaid on time, so no undesirable codes have been recorded in the ZEK system?
The situation appears to be ideal for you to obtain a loan. You have filled in an online loan application, you are full of confidence, the only possible result is that you will receive a positive response.
24 hours later, the unthinkable happens and you are in a state of shock: the bank has dared to reject your application! How is this possible, where is the mistake?
A clean record doesn’t guarantee a loan will be granted
Many people fall into the trap of believing that having a job, no legal proceedings or declaration of insolvency, and no ZEK codes, gives a guaranteed green light for a loan. This is an illusion since these are unfortunately (and fortunately) not the only criteria taken into account by banks. And it is never a good idea to suffer rejection by a bank, it will be recorded on the ZEK system with a rejection code thrown into the bargain!
The 8 most common reasons for rejection despite a sound financial situation.
- You are under 18 years old (and under 25 years the conditions are stricter)
- The loan amount you are applying for is higher than the legal ceiling (calculation based on your income / expenditure)
- You have had a residence permit B for less than 6 months
- You are a cross-border worker, you work in the Vaud Canton, and you have had an employment contract with the same employer for less than 3 years
- You receive disability insurance and the loan amount is 5 times higher than the monthly allowance
- You are an international civil servant and your main residence is located abroad
- You are married, and the financial situation of your spouse is not sound, with legal proceedings in progress or as yet unresolved
- Your score means you fall into the category of people at risk. Example: you frequently change employer and place of residence, your nationality, your type of job, your income category, etc.
How you can avoid the traps of loan rejection
As you can see, there are numerous and diverse reasons for this. To protect yourself from unpleasant surprises, the best solution is to seek advice from a broker approved by banks, who knows the LCC law (Swiss consumer credit law) and the requirements of the various banks like the palm of their hand.
All the advisors at CC Crédits Conseils SA are accredited professionals and they accompany you for free at the different stages of your application process. Their personalised advice and in-depth analyses of each application file maximise your chances of obtaining a loan from the bank.
- Categories: Consumer credit