As a responsible lender Plenti assesses all applications with the aim of determining whether you can manage new debt without experiencing financial hardship. Once you submit your application, we first verify that your household income, based on your most recent tax return, meets the scheme’s eligibility requirements. Qualified applications then proceed to our credit assessment, where we:

• Confirm your identity and review your credit bureau file, including current credit limits and repayment history.
• Conduct a servicing assessment that compares your income against ongoing obligations - such as living expenses, mortgage or rent, credit cards and personal loans, to assess whether you can afford both your existing commitments and the proposed loan repayments.

To validate income sources, we may ask you to provide payslips or other relevant income documentation.

Why may a loan application be declined?
Most eligible applicants are approved. However, we may decline your application if any of the following apply (noting this list is not exhaustive and other considerations may also affect our decision): 

• You lack sufficient capacity to service the new loan
• We cannot verify your identity or declared income
• Your Equifax credit file shows significant missed payments or defaults (rare)
• The property or equipment fails to meet WA Scheme requirements