Let's talk about the letter, this secret weapon that affects your loan. For banks and other financial institutions, letters are the most important tool for assessing your or your corporate credit risk. Thus, if a loan is to be applied for, the letter of call becomes an obligatory reading. So, how many times can the letters be checked, and if too many checks affect the loan

How many times can a letter check not to affect a loan

As a rule, the number of enquiries for your letters does not exceed four in one month, five in two months, eight in three months and 12 in six months, so that the impact on the outcome of the loan will not be significant. However, if the number of enquiries exceeds that number, there is a risk of being denied credit. Because the bank may doubt your financial position and think that you may be unable to pay, it will choose to reject your application。

By the way, it's also a sensitive subject. The consequences of the delay are as follows:

1. Your economic situation will be affected. Overdue interest rates add to your debt every day. Over time, your economic pressure may get bigger and bigger。

2. Your credit ratings will decline. The black list in this report will cover your starlight, causing your credit rating to drop. That way, you'll have to cross more barriers to refinancing。

3. You will find the loan more difficult. When a bank or financial institution approves a loan, it often looks at your previous correspondence records. If you have a overdue situation, the path to applying for a loan may be bumpy。

4. Legal action may be taken by banks or financial institutions. Carefully cautions that a long overdue period may lead banks or financial institutions to begin to lose confidence in your ability to recover your arrears and to develop the idea of legal means that you may need a stand-off court。