The different situations
If you are the victim of a bank loan refusal, know first that you have little recourse to influence the decision. In fact, apart from cases of discrimination, which are often difficult to prove, the bank has every right to refuse to lend you money.
If you signed a compromise
The suspensive clause for obtaining a mortgage and the period of withdrawal of the sales agreement protect the borrower. In case of refusal of financing, know that the elements of the request must be strictly identical to those indicated in the preliminary contract. Otherwise, in the event of a court summons, the court may consider the condition as deemed fulfilled.
It is therefore essential to anticipate a possible refusal of bank loan as soon as the pre-contract is signed. To do this, start by respecting the deadlines imposed on you.
- Deadline for filing the loan application
- Deadline for obtaining the prior offer.
Refusal of a professional loan
If you have requested a business loan from your bank and it has notified you of a refusal, you have the option to contact the credit mediator.
In each department, the mediators, in fact the directors of the Banque de France, are responsible for studying all requests from business leaders.
It should be noted that since the beginning of the financial crisis, many small and medium-sized businesses are facing serious cash-flow problems as banks are reluctant to lend to companies in difficulty.
Nearly 20,000 applications were filed in one year by business leaders in dispute with their bank.
FICP file case
The National File of Payment Incidents (FICP) managed by the Banque de France groups incidents relating to loan repayments.
Thus, if you have shown any failure in the settlement of your deadlines, the bank may request the registration of the incident with the Central Bank. This request generally occurs as soon as you have not been able to pay at least two monthly payments consecutively and that they remain unpaid for two months or more.
In principle, the borrower is aware of the file as the Bank of France sends a letter ordering the payment of the debt within 30 days and failing this, warns the borrower of his file and the duration of the registration.
When you mount a credit file, the bank starts by querying the file. In other words, your registration will be a reason for the bank on which it will rely to refuse your request.
What to do if your credit application has been refused
First, we advise you to play the competition to protect you from a possible bank refusal. This is the first precaution to take. The forums are full of testimonials from borrowers recounting their misadventures with their bank. Be wary of overconfidence with your usual counselor and take the maximum precautions.
To do this, do not wait for a bank loan refusal to contact a new organization.
Our advice : set up at least two loan files at the same time. You will give preference to the bank in the best position and you will protect yourself in case of refusal from one of them.
What are the legal remedies?
As we told you, there is little recourse. The bank is a private company that is governed only by its own rules. It must comply with the regulations on credits, but it does not oblige it to lend money to its customers.
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