There are two things to consider carefully when we decide to apply for a loan or a mortgage. The first is our economic and financial situation, the second is our creditworthiness.
To understand if our economic and financial situation allows us access to credit without worries, it is advisable to check the income and expenses, the current account and credit card situation, the expected expenses over the medium and long term (depending on the type loan we want to use).
Business Loan reliability
Business Loan reliability, on the other hand, is linked to the ability to regularly repay the debts incurred and the presence of other loans in progress. Information relating to our credit history is contained in the end-to-end knowledge company.
If we have always paid the loan installments on a regular basis, we are considered as ” good payers “: information on us in the HTAs will be positive and will allow us easier access to credit. In fact, the banks to which we will refer can verify that we have always repaid the loans previously contracted and are therefore considered reliable. It is however necessary to bear in mind that each credit institution discreetly follows its own decision-making policy and has its own criteria for assessing creditworthiness.
For this reason, requesting the cancellation of positive information contained in the HTA, as far as possible, is in any case advised against: it could make it more difficult for banks to assess our creditworthiness, reducing the possibility that the loan will be granted to us.
As for the negative information (delays or missed payments), the law indicates precise cancellation times (from 12 to 36 months from the regularization of payments, depending on the number of unreimbursed installments). It is better to be wary of those who offer the payment cancellation of the negative data present in the end-to-end knowledge company.
At the time of the request for credit, the bank or lending institution will also evaluate the presence of other loans in progress, to understand if the client is about to reach a too high level of debt, putting at risk his economic situation and his ability to repay the debt.
Credit reliability is therefore a key element when we talk about access to credit. A help in evaluating our situation can come from Mettinconto, the Master Loan service that offers personalized advice for the analysis of the credit situation and the planning of debt.