Mistakes to avoid when applying for a private loan!

request for a private loan

Applying for private credit is a journey that many people undertake, often encountering unforeseen difficulties. In Switzerland, the granting of a loan is supervised by stringent regulations. They aim to protect consumers while ensuring the stability of the financial system. However, these rules also make the process of applying for private credit more complex for many applicants.

request for a private loan

Indeed, before granting private credit, financial institutions must carry out a detailed analysis of the creditworthiness of the applicant. This includes an assessment of their income and expenses, as well as their credit history. The purpose of this careful assessment is to ensure that the applicant is able to repay the loan without jeopardizing their financial situation.

In this new article, we will therefore explain to you in detail all the pitfalls to avoid. Thus, you will be able to navigate more efficiently in the process of applying for a private credit!

Contents

  1. The 4 mistakes to avoid when applying for a loan
  2. Never make several requests at the same time
  3. Communicating bad information
  4. Transmit poor quality documents
  5. Choosing the wrong private credit broker
  6. Our conclusion on the mistakes to avoid when obtaining a loan

The 4 mistakes to avoid when applying for a private loan!

When applying for private credit there are several common mistakes that you absolutely must avoid. So you maximize your chances to get your loan approved! Here are the 5 mistakes you should avoid when applying for funding:

  • make several requests for private credit at the same time;
  • communicating incorrect information about his personal situation;
  • send poor quality supporting documents;
  • and finally, choosing the wrong private credit broker.

Avoiding these common mistakes will dramatically increase your chances of getting private credit. Moreover, you are not alone in this process! In effect, Lica is recognized in the field of private credit in Switzerland and will guide you through each step of your request for a loan. We are committed to providing you with clear and accurate information to help you avoid common mistakes.

1. Never make several private credit applications at the same time

request for a private loan

When it comes to applying for private credit, a common mistake can be the temptation to make several requests simultaneously with different financial institutions. This may seem like an effective strategy to increase your chances to get a loan. However, this is a counterproductive approach that can seriously compromise your ability to get the credit you need.

No faster processing!

The first reason is that several simultaneous requests do not guarantee faster processing of your Credit Report. The credit organizations consult a database of customers, the ZEK, before processing a request. If you have several applications for private credit in progress, you will therefore have several registrations at the ZEK. This can make you appear "unstable" to lenders and make it harder to get credit. In addition, it could also result in a credit offer that is not on the best terms.

An accumulation of uncontrolled refusals

Second, in case of refusal of your request by one lender, the acceptance of your application by the next lender becomes even more difficult. With several simultaneous requests, refusals can accumulate, thus making obtaining credit even more complex.

Decrease in your credit score

Finally, making several credit applications simultaneously can negatively affect your credit score. Each refusal of credit is registered with the ZEK, and the more there are refusals, the more your solvency score decreases. Thus, it will be more difficult to obtain private credit in the future.

The best way to avoid these problems is to apply for one loan at a time by carefully choosing your private credit broker. With more than 10 years of experience, Lica offers the best market conditions. In addition, you will benefit from a quick response to your request and a personalized approach. Lica can help you get the credit that best suits your needs.

2. Communicating bad information about his personal situation

request for a private loan

As part of a request for a private credit, the integrity and accuracy of the information provided are essential. It may be tempting to change or omit certain details about your financial situation to increase your chances of getting a loan. Be careful, this can have serious consequences!

In Switzerland, as in many other countries, providing false or inaccurate information when applying for credit is considered fraud. Also, it can seriously affect your credibility and credit score. Thus, it will make it impossible to obtain private credit in the future.

Even if the legal consequences are severe, the real danger lies in the long-term financial consequences. A loan granted on the basis of false information may lead to a debt that you will not be able to repay. This can lead to excessive indebtedness, defaults and a deterioration in your credit score.

Lica optimizes the presentation of your file with correct information

To avoid these problems, it is crucial to provide accurate and complete information when applying for credit. It's there that Lica can help you. As a private credit expert in Switzerland, Lica guides you through the loan application process. We ensure that all information provided is accurate and complete. In addition, Lica offers a personalized approach to help you obtain the loan that best meets your needs, while respecting the principles of integrity and transparency. So with Lica, you can avoid costly mistakes and get private credit in an ethical and responsible way.

3. Be careful to send good quality supporting documents

The quality of the supporting documents submitted when applying for a private loan can have a significant impact on the approval process. Illegible or poor quality documents can lead to delays in the processing of your application, and even a refusal.

When submitting supporting documents, ensure that all information is clearly visible and legible. Scans or photocopies should be clear and without blurry or shadowy areas that could make the information difficult to read. The documents poorly scanned or illegible may give the impression that you are careless or unprofessional. This may therefore affect your credit application.

4. Choosing the right private credit broker?

request for a private loan

In the context of a request for a private credit, choose well his broker private credit can make all the difference. A quality broker, like Lica, can help you identify the best credit options that best suit your needs. Here are some criteria to consider when choosing a broker:

Saving time and effort:

A good broker in private credit will save you time and effort by carrying out all the necessary steps for you to obtain a loan. It takes into account your profile and your financial situation to offer you the loan that best meets your needs.

Possible savings:

An experienced broker is able to negotiate better credit terms. So you can make substantial savings.

Best borrowing rate:

The broker also has access to a wide range of credit options, allowing him to find the best conditions market for you.

Personalized support:

A good broker offers personalized support and accompanies you throughout the process of applying for financing. It takes into account your specific needs and guides you through the various stages of the request.

Arthur MoreiraArthur Moreira
13:51 21 Feb 24
Marta FerreiraMarta Ferreira
14:47 20 Feb 24
Jedidia AndrianarivonyJedidia Andrianarivony
13:49 20 Feb 24
It's impeccable
Anderson ZomerAnderson Zomer
12:08 15 Feb 24
Really satisfied with Oman! Very professional, clear and fast! THANKS
Houda KacemHouda Kacem
13:33 09 Feb 24
Andreas HerzigAndreas Herzig
19:58 05 Feb 24
Leonora NrecajLeonora Nrecaj
16:52 03 Feb 24
I can highly recommend the advice of Mirlinda Ahmeti at Lica. She is reliable, acts quickly and finds solutions. I am very satisfied with her. ??
Exceptional professionalism from Ms. Mara Garcia and her entire team. I recommend.
Eliane RibeiroEliane Ribeiro
11:33 30 Jan 24
I would like to share my positive opinion on the services of Lica Crédit. Their professional team was efficient in processing my credit application, with competitive interest rates and flexible repayment terms. I highly recommend your services.
Giuseppe Di CarmineGiuseppe Di Carmine
13:39 26 Jan 24
Manuel is a kind and very competent person. Someone who knows how to do his job and who doesn't give up. I really recommend him.
Matteo D'ArpinoMatteo D'Arpino
19:57 18 Jan 24
Rosario D'alessandroRosario D'alessandro
10:38 18 Jan 24
Manuel is a good guy
officialvitordiasofficialvitordias
14:23 11 Jan 24
Always try until we find a solution for the customer
Marta CabralMarta Cabral
15:57 09 Jan 24
Filipa DiasFilipa Dias
14:05 05 Jan 24
Dovile TDovile T
13:22 03 Jan 24
Thank you Manuel for the professional assistance, fast and efficient feedback!
Lurdes CunhaLurdes Cunha
13:26 07 Dec 23
I would like to thank Mr. Omar Gourgel, because he was very professional, excellent advisor and efficient in his work. My husband (Mr. Artur Da Silva Cunha) and I are extremely satisfied and recommend your services.
Zeinab RkainZeinab Rkain
13:34 29 Nov 23
Nilsa TeixeiraNilsa Teixeira
17:02 16 Nov 23
The consultant Mara Garcia, in addition to being friendly, is a good professional. She is very good at what she does...
Pedro RamiaoPedro Ramiao
16:45 16 Nov 23
Ana BelloAna Bello
11:16 16 Nov 23
Mr. Omar was very professional and very attentive to my need to obtain the ceedito
Alberto FloresAlberto Flores
15:48 07 Nov 23
Hello gentlemen from LicaOf course I am satisfied with your attention, especially that of Mr. Omar Grougel, everything was a pleasant conversation with the advice to carry out this project, thank you very much for everything…Thank you Mr. Omar G
Fadil KamishiFadil Kamishi
20:44 03 Nov 23
Greetings Mr Manuel you are n1 congratulations I am very happy with the work you do for us thank you very much.
Václav PalarčíkVáclav Palarčík
18:59 03 Nov 23
Thank you very much Mrs. Mirlinda Ahmeti, she helped me a lot and always answered my questions immediately, she is the right woman, thank you.
My EmailMy Email
15:58 02 Nov 23
My experience with Miss Mirlinda Ahmeti from Lica was very helpful, she represented me very well with the lender and in the end I got the financial assistance without any problem. Regards C.W.
Renata HlaváčkováRenata Hlaváčková
14:21 02 Nov 23
I am very satisfied and Mrs. Ahmeti is very professional.Thank you very much Renata
Bekim ShalaBekim Shala
11:46 02 Nov 23
Consultant Mirlinda immediately understood my needs as a client and worked hard to achieve a positive outcome to my requests. Polite, efficient, precise, professionally competent and very empathetic personally. I highly recommend Mirlinda Ahmet
Václav PalarčíkVáclav Palarčík
10:02 27 Oct 23
Helder FilipeHelder Filipe
11:52 25 Oct 23
joao pintojoao pinto
10:08 23 Oct 23
Jules UddinJules Uddin
10:16 16 Oct 23
BlumeoBlumeo
05:13 13 Oct 23
Marcelo FerreiraMarcelo Ferreira
11:34 12 Oct 23
Excellent professional Mara Garcia
Salvatore Lo GiudiceSalvatore Lo Giudice
11:20 12 Oct 23
Manuel N^1 was very precise, a true professional.
Angela CoelhoAngela Coelho
09:39 09 Oct 23
Christian FarinaChristian Farina
09:20 09 Oct 23
It was a pleasure! Very pleasant business partner!
juan alcaldejuan alcalde
06:36 04 Oct 23
always gives solutions
Luis GarciaLuis Garcia
16:50 03 Oct 23
Paolo ChieffoPaolo Chieffo
17:17 28 Sep 23
Kimberly BallamanKimberly Ballaman
16:18 26 Sep 23
He was able to answer all our questions and help us with our request.
Nadia DeBarrosNadia DeBarros
13:13 21 Sep 23
Renaldo GjoziRenaldo Gjozi
09:18 20 Sep 23
Joaquim AzevedoJoaquim Azevedo
17:15 15 Sep 23
Antonio SimoneAntonio Simone
11:31 15 Sep 23
Thanks to Mr. Manuel a very competent person in his work thank you very much
Roberto LabanoRoberto Labano
13:24 14 Sep 23
Je voudrais dire que Mara Garcia a été excellente pour résoudre ma demande. Du début jusqu'à la fin. Je recommande à 100%. Merci Mara 🙂
Ricardo RibeiroRicardo Ribeiro
06:49 14 Sep 23
Mara Garcia took care of my order. Super friendly, attentive and always available to help. In this branch of the best I have found.
Cosimo TassoneCosimo Tassone
14:44 31 Aug 23
The consultant Manuel Ognissanti is a very good guy in his work and available, thanks to his knowledge I managed to obtain the credit. I recommend it to everyone ..?? THANK YOU MANUAL..
Ricardo Da SilvaRicardo Da Silva
08:25 31 Aug 23
Fast, no problem.
Ricardo RibeiroRicardo Ribeiro
08:19 31 Aug 23
Francesco CrisafulliFrancesco Crisafulli
11:59 30 Aug 23
available and practical! what you need in these situations.informed
PikachuPikachu
12:48 19 Aug 23
False advertising. Inability to obtain a loan. Consultant offering me no solution, except to manage on my own...I strongly advise against it and that's a shame.
Melitta CostantinoMelitta Costantino
11:06 08 Jun 23
Impeccable efficiency. From A to ZFast, clear, efficient and serious
Dave MartinsDave Martins
15:51 03 Tue 23
Mrs. Garcia, with whom I had contact from start to finish, was great, attentive and very professional, it should be noted because in this area it is very rare. I got my fat credit fast from them. I can only recommend
Rachel PittetRachel Pittet
12:33 02 Tue 23
Very satisfied, a good solution has been found. Thank you very much for your work
Rui P.SantosRui P.Santos
14:08 31 Jan 23
Excellent service, very good customer support all along the way. A real pleasure to have found them. Mara did everything to help me find a solution. Thank you
Danny FernandoDanny Fernando
14:37 25 Jan 23
Company that really gives of itself for these customers and that really tries to find solutions. Friendly service, support during all stages. Real pros. I highly recommend. Many thanks to Ms. Garcia for her professionalism and efficiency.
Flaco VerdeFlaco Verde
17:15 19 Jan 23
Many thanks to Mara for her help and efficiency.
Eugenie KouassiEugenie Kouassi
16:27 18 Nov 22
Yes I am very satisfied with Manuel, humanely available, explains clearly with professionalism, very courteous on the phone, I recommend Lica ++++++ and many thanks to Manuel!
Oberlin MichaelOberlin Michael
16:58 01 Nov 22
She really was me, she's the only one who believed in me, I find her just incredible
vincent morelvincent morel
13:14 24 Oct 22
Mara Garcia I recommend her for the credits
jaffyx leejaffyx lee
11:09 21 Oct 22
Very responsive and available
Ferreira AlbertoFerreira Alberto
08:16 09 Sep 22
Many thanks to Lica and especially to François Guss. Your efforts do not go unnoticed. Thanks for your help and support. You are truly an asset to your team and to the entire organization. Your work ethic and your involvement are admirable, we are lucky to have someone as dedicated as you on board!
Cecilia de JongCecilia de Jong
08:57 15 Jul 22
The person of my response is very professional, efficient, reliable, diligent, updates my requests at any time, I am very grateful to Omar Gourgel, who always takes good care of my file, Bravo it's magnificent and excellent! Well done! The employer should be proud of him, applaud and promote him please???????
Thelight33 WorldThelight33 World
15:14 13 Jul 22
I was very satisfied with the services of Mr. Omar Gourgel, I highly recommend him! ?
luigi caldarolaluigi caldarola
10:22 29 Jun 22
Perfect service Perfect consultant manual. Punctual, meticulous, helpful, everything went well and thank you again for the service
Nuno AlvesNuno Alves
13:12 01 Feb 22
Very easy to apply for your loan. The advisor very helpful and always there to explain what you need to do. Recommend.
bjlno familybjlno family
22:54 10 Dec 21
We obtained our financing on very advantageous terms and in record time. Despite a refusal from another bank, Lica found us a great solution. We recommend the services of this company. Thank you for your work.
Bastien HenriBastien Henri
13:22 12 Jun 20
Very good service and a real novelty in terms of financing. Thanks to the cashback the conditions are excellent!
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By choosing Lica as your private credit broker, you benefit from unparalleled experience and know-how. Lica is dedicated to meeting your needs and making your dreams come true with advantageous credit. With a pre-analysis of your request, Lica accompanies you throughout the process. We are committed to getting you the private credit that best suits your financial situation.

Our conclusion on the mistakes to avoid when obtaining private credit

When applying for a private loan in Switzerland, it is essential to understand the challenges and Errors to avoid to increase your chances of success. Eligibility criteria and regulatory requirements can make obtaining a loan difficult. It is therefore crucial to be well informed and prepared.

Finally, choosing a good broker, like Lica, can make a big difference in the success of your credit application. An experienced broker can help you find the best credit terms. You save time and effort by taking advantage of personalized support.

Do you have questions before applying for private credit? Our advisors are there to answer your questions 7 days a week directly on WhatsApp. Ask us for more information and we will be happy to answer you!

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Arthur Moreira
Arthur Moreira
13:51 21 Feb 24
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Marta Ferreira
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Jedidia Andrianarivony
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13:49 20 Feb 24
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