<\/span><\/h2>\n\n\n\nBeing turned down for a loan can be disheartening when you think, “I need a loan but keep getting declined.” However, understanding the possible reasons gives you power to take positive action. By fixing these issues before applying, you can improve your chances of being approved.<\/p>\n\n\n\n
Remember that lenders have a duty to make sure you can afford to repay what you borrow. Their decision to decline your application may be protecting you from taking on more debt than you can handle.<\/p>\n\n\n\n
Research carefully to choose a loan product that fits your situation and make sure you can comfortably meet the repayment obligations. If you continue to have problems, consider getting advice from a free debt advice service before taking on more commitments.<\/p>\n\n\n\n
Note:<\/strong> This information is provided to help you understand loan applications. It is not financial advice.<\/p>\n","protected":false},"excerpt":{"rendered":"Are you frustrated because you need a loan but keep getting rejected? It’s normal to feel upset when this happens. Let’s look at the most common reasons why this might be happening, especially if you are in financial difficulty, and what you can do about it. 1. Low Credit Score Your credit score shows lenders […]<\/p>\n","protected":false},"author":47,"featured_media":752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-726","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-research"},"_links":{"self":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=726"}],"version-history":[{"count":4,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/726\/revisions"}],"predecessor-version":[{"id":1210,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/726\/revisions\/1210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media\/752"}],"wp:attachment":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}