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Sometimes we don’t have enough cash to buy everything we need. This is especially true for more expensive things. On the other hand, saving, especially with average incomes that do not allow you to go crazy, would be pointless. For example, we don’t have enough money to buy a flat for cash. However, we can afford to take a loan from the bank. For this reason, we decide to visit the facility. What questions should we prepare for?

Each time the bank decides to entrust someone with money, it tests its creditworthiness. But what is creditworthiness? This is no more but no less than the borrower’s ability to repay the obligation. Therefore, the bank checks whether we will be able to pay the installments regularly. To put it even more literally, the bank investigates whether we can afford a loan.

What constitutes creditworthiness?

What constitutes creditworthiness?

The concept of creditworthiness is quite complex and has many components, which primarily include our history verified in the Credit Information Bureau, financial situation and family situation.

History at checker

History at checker

Each bank, regardless of the type and amount of the loan we apply for, is required to verify it in checker. This is an element that the bank will never miss. Our credit history is not only information about whether we have repaid our previous obligations. By verifying our history in checker, the Bank will also find out whether we repaid the loan installments on time, and therefore whether we are responsible people and whether we comply with the terms of the contract.

Financial situation

Financial situation

To analyze our credit standing, the bank must also verify our financial standing. What is meant by that? Our situation consists of the amount of our income and its source (employment contract, mandate contract, retirement pension, disability pension, income from rent or rent). In addition, the bank is interested in how much our maintenance costs us monthly. How much does the rent, fuel, utilities etc. cost us? However, this is still not the end. Our current commitments and their amount are also important. These are primarily other loans and credits, the amount of debt on credit cards, as well as the amount of maintenance installments, if any, have been awarded to us.

In this way, the bank can compare the amount of our income with the amount of expenses and in a simple way check whether there is something left for us to, for example, repay the loan installment.

Family situation

Family situation

When examining our creditworthiness, the bank will also certainly ask how many people stay with us in our household. This is to determine how many people are dependent on us, because the more they are, the higher our expenses are.