Acceptance or refusal of a credit request

Understand the rationale for accepting or refusing your credit application

Understand the rationale for accepting or refusing your credit application

On what criteria is your banker or your credit institution based to announce the agreement or the refusal of your request for credit? Are there standards and rules of calculation for that? There are so many questions that you are supposed to answer and take them into consideration when putting together your credit application.

Any credit organization does not seek to grant a large number of credits, but credits which will be reimbursed thereafter, consequently it analyzes in a meticulous manner the credit files presented by integrating very precise calculation rules and standards.

Thus, it will study your repayment capacity, for this it subtracts from the resources that you hold a sum of money necessary to meet the expenses of everyday life, this sum is called the RAV “Reste A Vivre”.

Generally the minimum RAV allowed is $ 700 for a single person without children and $ 800 for a couple without children.
For a person with children, these amounts will then be increased by $ 300 per dependent. Thus, a family composed of a couple and 2 children must have a minimum RAV of $ 1,400, also the RAV of people living in Ile de France will be increased by around $ 100 per person.

It takes into account your debt,

It takes into account your debt,

In addition, it takes into account your debt, your financial, professional and family situation, your patrimony and your income, your financial past for that it to check if you are registered with the FICP, even that certain lenders are in the habit of checking the good health of the employer, if the borrower is a private employee, especially if it is a small business. He also checks the nature of the contract, so if the borrower is a temporary worker, for his request for credit to be accepted, his temporary work must last more than three years.