Question

If denied a loan, which of the following changes to your application process will not increase your chances of approval when you re-apply? a. Apply for a larger loan amount. b. Increase your gross monthly income. c. Have a cosigner apply for the loan with you. d. Eliminate some of your debt before you re-apply.If denied a loan, which of the following changes to your application process will not increase your chances of approval when you re-apply?

a.
Apply for a larger loan amount.
b.
Increase your gross monthly income.
c.
Have a cosigner apply for the loan with you.
d.
Eliminate some of your debt before you re-apply.

Answer 1

a

Explanation:

Answer 2

Answer: A. Apply for a larger loan

When re-applying for a loan after getting denied, applying for a larger loan will most likely get denied even faster. If they find that you have been denied a loan for a smaller amount, applying for a larger loan will not help you get approved. Most banks and loan companies keep track of the people that apply for loans.