What happens if you get rejected for a personal loan?

Member

A friend of mine recently got rejected and they didn't give her a clear outline as to why. She is not sure if she can apply again in sometime or if she needs to apply to another bank. They just were not clear with her about it.

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May 10, 2020 9:17 PM

She should get a notice of adverse action explaining why she was denied. If this is not given, tell her to request it because by law it should be provided. She will know for sure why she was denied.

May 14, 2020 12:02 AM