Is It Possible To Borrow If We Have A Bad CCR? |Nowadays, the need for borrowing has reached many people. Unfortunately, there are times when it is impossible to cover all contributions. Thus, over time, debt obligations accumulate on various loans, and this negatively affects our credit history. Poor credit score, better known as a bad CCR in the name of the Central Credit Register, can seriously reduce your chances of getting new loans. Still, it is possible to withdraw credit even with bad credit ratings.

How is a CCR formed?

How is a CCR formed?

Before you consider taking a new loan even with a bad CCR, it’s important to be fully aware of how your credit score is formed. Although your current credit rating may not be good, you can always improve it as long as you know which factors affect it.

In the Central Credit Register you can find a detailed inventory of all loans and credits you have withdrawn in the last five years. It monitors the permanence of the payments and the total amount of payables you are currently paying off. The timeframe the register encompasses is extremely important. Your CCR can improve significantly after a credit has expired, so it is important to follow such deadlines. Repaid and terminated loans are reflected in your credit history up to six months after the expiration of the policy, so keep in mind that the positive effect on your CCR may take time.

Monthly income

Monthly income

Credit assessment is one of the main factors determining whether an applicant will be approved for a new loan. However, it is possible to withdraw credit with a bad CCR because there are other determinants.

The first important distinction we have to make is the difference in the loans granted by the bank institution and the fast loans. Bank credit terms are much stricter than the approval requirements for fast-paced companies.

A bad CCR is likely to seriously damage your chances of bank credit approval. But non-bank lending institutions are usually a little more liberal. They review a list of criteria such as monthly wages, social benefits and other sources of income. Your current payables and income play a much greater role than your credit history, so if they are good, your chances of getting a quick loan are increasing. The same criteria apply to withdraw quick credits through fully online platforms and creditors. Still, not always, even those lenders would lend you money.

Terms of bank credits withdrawn in case of bad CCR

Terms of bank credits withdrawn in case of bad CCR

Even if you can get a bank loan despite the bad credit history, your credit conditions are likely to be less favorable. When the bank institution looks at your story and notices overdue payments, the security of their investment declines. In order to secure the bank would reassess the approval of the loan you have requested, but under different conditions. Most often, loans granted to individuals with a bad credit rating are granted at higher interest rates and / or higher fees.

As with any loan you make, it is of utmost importance to be fully aware of the repayment terms so you are aware of the amounts that will be required by you monthly. In certain situations, it would be wiser to wait for your credit history to improve before you take out a new bank loan.

Quick loan conditions withdrawn under bad CCR

Quick loan conditions withdrawn under bad CCR

Taking a quick loan with a bad CCR differs by several criteria from withdrawing a bank loan. As mentioned earlier, fast-paced lenders provide more flexible terms on their loans, but the bad CCR may still have an impact on the interest rate on the loan.

Fast credit companies see the bad CCR as a signal of possible defaults on further loans. For them, however, it is often most important to be able to prove a high enough income. In this situation, it is quite possible to obtain credit approval in spite of bad credit history as long as you provide information on sufficient monthly earnings to cover repayment installments. And yet – it’s not sure whether you will surely get a positive answer.

Poor CCR of your relative


The bad credit history of members of your family can also negatively affect your application for a new bank loan. Banks usually require the completion and signing of a connectivity statement that allows the institution to look at the CCR of your close people – parents, children, spouses. This additional documentation slows down the process of processing the documents, and if one of your relatives has a bad credit history, this can also have a negative effect on your chances of approval.

Unlike banking institutions, fast-paced companies are not interested in the credit history of your family. With them, filling in and processing the documentation takes considerably less time, so many people resort to their services when they need a cash loan.

Reorganize your current duties


Some of the most common steps taken before a new loan is a merger of your current obligations into a common policy or the refinancing of consumer loans. These steps would have a positive impact on your credit rating. Keep in mind that loan repayments and their refinancing are reflected in the registry within six months.

Maintaining good organizing of your obligations, merging and refinancing also shows your responsible attitude towards the creditors. This gives a good impression to employees who are responsible for approving new loans.

The reports that are required for both bank loans and fast and online loans inevitably show your CCR. It is therefore important to organize your duties in the best possible way. If your credit history shows progressive thinking and responsive action to repay your ongoing obligations, you significantly improve the ability to withdraw a new loan.

Your chances of getting approval for a new loan even with a bad credit history depend on many other factors. Therefore, if you follow these tips and try to repay your contributions in due time, there is a real chance to be approved for a new loan despite your bad payer history. It is important, however, to assess your situation before resorting to another credit. If you think this will further aggravate your financial situation and you will wonder where to find the money and the newly withdrawn loan, it is better not to withdraw. Squeeze your teeth, try to shrink your costs and think how to get out of this position.


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