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Applied for BLOC with Sovereign Bank

The last post in this topic was posted 4341 days ago. 

 

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Today I went to Sovereign Bank and applied for $20K BLOC. They took my application and said I would know the outcome in 72 hours. With Sovereign if you are looking for $100K they do not need financials. They look at Fico Score and require PG. Once I hear from them, I'll let you know If I am approved for the Line.

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I called today to find out the status. They said my app is declined. I guess enough for now. I'll wait 6 months let me accounts age and then try again. In the current financial condition, I dont feel bad if I dont get approved.

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Sorry to hear that. Did they give a specific reason why?

My scores are low. They pulled EX it was around 678 or so. I also applied for few cards around the same time. I'll stop apps and cleanup few things and see if I can get more scores into 700's in the next 6 months.

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Sorry to hear that. Did they give a specific reason why?

My scores are low. They pulled EX it was around 678 or so. I also applied for few cards around the same time. I'll stop apps and cleanup few things and see if I can get more scores into 700's in the next 6 months.

 

 

Not trying to be an A hoe but seems like you're been on a spreed there buddy,

 

maybe you should let your accounts age and work on CLI instead.

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Sorry to hear that. Did they give a specific reason why?

My scores are low. They pulled EX it was around 678 or so. I also applied for few cards around the same time. I'll stop apps and cleanup few things and see if I can get more scores into 700's in the next 6 months.

 

 

Not trying to be an A hoe but seems like you're been on a spreed there buddy,

 

maybe you should let your accounts age and work on CLI instead.

I really want a BLOC. I have decided to wait for 6 months and then try for it. I am also going to talk to my local banks and see if they would be willing to give a BLOC. Looks to me it is easy to make money than trying to borrow. I am also going to focus on increasing the revenues and foucs on saving the income. In 6 months I should see a boost.

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... Looks to me it is easy to make money than trying to borrow. I am also going to focus on increasing the revenues and foucs on saving the income.

Exactly!!!!

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did they (or do they) pull a 4506-T ?

Under 100K they dont need financials. It is based your personal scores. If it is over 100K then they would require financials. Even under 100 they might ask depending on the amount and type of business and other details. In general they say under 100K it is based on the personal scores and no financials needed.

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did they (or do they) pull a 4506-T ?

Under 100K they dont need financials. It is based your personal scores. If it is over 100K then they would require financials. Even under 100 they might ask depending on the amount and type of business and other details. In general they say under 100K it is based on the personal scores and no financials needed.

 

I understand not requiring financials (tax returns, finacial statements,etc), but did they make you sign a 4506?

I talked to Citizens Bank and M&T Bank today, neither ask for financials/tax returns, but they both require a 4506 (and they actually do pull the transcript).

 

Thanks!

Anthony

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did they (or do they) pull a 4506-T ?

Under 100K they dont need financials. It is based your personal scores. If it is over 100K then they would require financials. Even under 100 they might ask depending on the amount and type of business and other details. In general they say under 100K it is based on the personal scores and no financials needed.

 

I understand not requiring financials (tax returns, finacial statements,etc), but did they make you sign a 4506?

I talked to Citizens Bank and M&T Bank today, neither ask for financials/tax returns, but they both require a 4506 (and they actually do pull the transcript).

 

Thanks!

Anthony

 

I refused to sign it and give it to them since their paperwork said no financials. I just told them no I dont want to give it and did not give them any thing other than the signed application.

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Many times "no financials" means two different things.

 

To You: No Financial information needed at all

 

To Them: We'll take you signature and do the financial vetting for you.

 

You should always confirm before they do a credit pull in they need a 4506 or 4506-T or not.

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... Looks to me it is easy to make money than trying to borrow. I am also going to focus on increasing the revenues and foucs on saving the income.

Exactly!!!!

 

:rolleyes::sorry::cry2:B):P

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The last post in this topic was posted 4341 days ago. 

 

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