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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

Why Do My Loan Applications Get Rejected And How Can I Fix It?

Many people assume that a credit score is the only thing to consider when applying for a loan.  However, there are plenty of other contributing factors.  If your loans keep getting rejected, and you don’t know why, maybe there are some things you haven’t considered.

Why Are Loans Rejected?

While a good credit score is definitely important, it doesn’t help much if you’ve only had it for a short period of time.  Lenders consider the consistency of credit history when accepting or rejecting loan applicants.  This means they will typically approve loans for those who have had good credit for longer periods of time and will be more skeptical of a good credit score achieved only recently.  Inconsistency of income, residence, and employment are also heavily scrutinized.

How Can I Fix It?

We highly recommend waiting to have a good credit score for over a year before taking out any new loans.  It also makes sense to wait for at least 6 months, after changing residence or jobs, before applying for new credit.  If you are reliable for a long period of time, lenders will be much more likely to grant loans to you.

With different types of loans, it can get confusing.  Do your research to know exactly what to expect before applying for different types of credit.  It is also helpful to know that there are several models used to calculate credit scores, all of which can return different results.  The popular FICO system itself has 28 different versions.

Good credit scores also only get you through the first screening, there are also income requirements, down payments, and other debt to consider.  Make sure you know your income-to-debt ratio and be sure to chip away at other debts before applying for more.  If your credit history has been good for some time, ask your lender to calculate your credit score using a variety of methods to improve your chances of approval.

What Can I Do if I Can’t Pay Off Previous Debts?

If you can’t keep up with your debts, bankruptcy is something to consider.  Learn more about how bankruptcy can help by contacting your Yuba City bankruptcy attorney at (530) 797-4402.

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