1, personal credit is bad. As a consumer micro-loan product, installment music is mainly based on users' credit data, and users with good credit can get installment music loan funds. If the user's credit report preferably contains default information such as overdue repayment and untrustworthy executors, then the user's credit score will be reduced, thus affecting the pass rate of installment music products.
2. The debt ratio is too high. If the user's current debt ratio is high, it will increase the repayment pressure of the user, and it is likely that the user will not be able to repay in full and on time, and will be considered as a high-risk user, leading to loan failure.
3. At present, there are overdue arrears. The installment music platform will query the user's credit report in real time when the loan is approved. If overdue debts are found, the platform will question the repayment ability of users, resulting in the failure of loan approval.
4. There are too many credit inquiries. Frequent card and loan applications will lead institutions to frequently inquire about the credit report of loans. A large number of credit inquiry records will make the platform doubt the repayment ability of users, and think that users are currently short of funds and lack repayment ability, which will have a negative impact on the approval results of installment music and lead to loan failure.
5. Illegal use of loan funds. The loan funds of installment music can only be used for daily consumption, and it is forbidden to flow into the property market, stock market and other fields. If users use the borrowed funds for other purposes, as long as they are discovered by the platform, they will naturally take measures to restrict users from continuing to borrow.
The above is the introduction of the situation that led to the failure of installment loan. Users can find out the reasons according to their actual situation and take corresponding measures to solve the problems, thus improving the success rate of loan application.