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  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Loan Rejection Reasons And Solutions

Loan Rejection Reasons and SolutionsDid you know that even people with great credit scores get denied loans? When it comes to applying for a loan, there are other things besides a credit score that matters to lenders. Credit scores are no longer the magic ticket for an approved loan. Fortunately, loan rejection reasons and solutions exist that can help you put your best foot forward.

Loan Rejection Reasons and Solutions

One the biggest reasons for rejection has to do with timing. A great credit score isn’t very strong if you  have only had credit for a short period of time. The length of your credit history is important. If two people have the same score, the lender sees it as the longer the credit history, the less risk in lending. Lenders also have rules as to how long you have had a job or residence. Jumping from job to job, or address, could also flag you as a borrowing risk. Other factors, such as a recent Modesto bankruptcy, could mean an automatic rejection.

How to Fix It

Wait until you have a strong credit history for over a year before applying for any new credit. If you  have recently changed jobs or address, wait at least 6 months before applying for new lines of credit. Generally, it is recommended that you wait six months to a year following a Modesto bankruptcy before seeking new lines of credit. Following a Modesto bankruptcy, you should rebuild your score using existing lines of credit to establish a consistent payment history before seeking out new lines of credit or a loan.

Another reason for rejection is in the details. Certain types of credit and loans, like a mortgage, use your credit score as the key to unlock only the first gate. In order to unlock the remaining gates, you will have to pass other requirements such as income, down payment amount, and other debt.  Another detail that matters is the credit score calculation model. The FICO scoring system alone has 28 versions, all of which could give you a different number.

How To Fix It

When it comes to the details of your type of loan, be sure you know what is required before you apply. If you are looking at applying for a mortgage you should take the time to save up more than the minimum down payment beforehand. Know exactly what income-to-debt ratio you carry and pay down other debts to  lower this ratio before you apply. While you can’t really control which version is used to calculate your score, you can ask your lender to pull your score from all three bureaus to compare the assigned score.

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