Even if your own considerations were so extensive, it can still happen that the loan application is rejected. This results in poor creditworthiness. But are you automatically blocked for further loan applications and will you never be able to get a conventional loan again?
It is correct that the data is recorded at the central office for credit information. This means that not only has the presence of a loan application been registered, but it has also been noted whether the loan was rejected or approved.
Payment arrears for bills, other loans or debt collection can also be found there, giving a comprehensive overview of a person's creditworthiness. The data are not all saved for the same duration. If the loan application was rejected, the corresponding entry remains in the database for two years.
It is open to everyone to apply for a new loan even after one has already been rejected. The entries in the ZEK are now decisive for whether the application is approved or rejected or whether the conditions are adjusted accordingly. Depending on the reason for the rejection and the type of risk awareness of the bank concerned, the further course of action is different.
If a loan application was rejected because credit card debt enforcement or dunning procedures were already pending, the loan application is usually not approved. If the first loan application was rejected because of less difficult matters, it may well be that the new application is approved.
In principle, however, any entry in the ZEK can have the following effects, among others:
It is therefore important to always make a realistic loan application and to know your own credit rating or to assess it correctly. This will avoid disappointment after the application has been made, and will also prevent you from receiving another entry in the register, which can also have a negative impact on all financial projects for the next two years.
It can be helpful not to send a loan request directly to the bank, but rather to first commission an independent advisor to do so. He can assess the creditworthiness and weigh up various options for the further procedure.
After the rejection, you should contact the ZEK and obtain a free self-assessment. This means that in future you will know which entries are available about you and what has led to the loan application being rejected. Please never switch to providers who allegedly grant loans without a credit check, here you fall into the trap of fraudsters!
Before applying for a loan, find out about your creditworthiness in order to know which entries are available. If a loan application is rejected, it depends on the respective reasons whether another application can be successful. The entries in the ZEK for rejected loan applications remain for two years.
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