Hi Friends of JACCS MPM Finance Indonesia, Let's understand why your financing application was rejected. The following are some of the reasons and causes.

1. Requirements/documents are incomplete.

Documents include personal identity in the form of KTP, Family Card, etc. Meanwhile, supporting documents include NPWP, SIUP, and salary SLIP/bank statement. Make sure all documents are attached when submitting, so that the verification process runs smoothly.

2. Loan exceeds the limit.

The loan limit is determined based on the ability and capacity of the prospective debtor. This can be based on pay slips, credit history and other proof of income. If the loan limit exceeds capacity, there is a potential that the lender will not approve the loan application.

3. Bad credit history

When applying for a loan, the provider will usually look at previous credit history through SLIK. If the previous loan history is not smooth, there are many fines, late payments, or various other bad records, the lender can reject the credit application.

4. Data does not match

The data attached is not appropriate, resulting in failed debtor verification. One example is entering a wrong telephone number. Also avoid data falsification, where the data provided is valid and can be accounted for. Therefore, to avoid verification failure, make sure to double-check the form that has been filled out.

5. Unstable job/income

Job stability is one of the benchmarks for credit application approval. If the prospective debtor has an unstable income or is less than the minimum limit determined by the lender, then the credit application is at risk of being rejected.