Analyzing the loan application, many companies verify the resources of databases such as Credit Information Bureaus and Economic Information Bureaus. By “scanning” a potential borrower, they can assess their credibility and their ability to pay their liabilities on time. Is it possible to get a loan without checking the databases in bik, big, erif and krd?
The Credit Information Bureau and the Economic Information Bureau provide lenders with reliable information on the financial condition of a potential borrower.
Although both registers are a source of valuable data, their specificity is different.
What is the Credit Information Bureau, known as BIK?
Contrary to popular belief, the Credit Information Bureau is not a register of debtors. BIK collects data on both debt and loan installments repaid on time. Interestingly, as much as 90% of the data collected in BIK is positive.
Access to information collected in the Credit Information Bureau is only available to financial institutions that cooperate with it on a reciprocal basis. In practice, this means that loan companies can send inquiries to BIK only when they themselves provide the institution with information on the obligations of their clients.
Importantly, a negative history in the Credit Information Bureau can go on for a late borrower for up to 5 years.
Negative credit history in BIK and creditworthiness
Negative credit history at BIK often becomes the reason for rejection of a loan application at the bank.
Fortunately, non-bank financial institutions have a much more favorable view of clients with low scoring. If you have a regular, stable income, you have the chance to receive a quick non-bank loan even with debt in BIK. If you want to be sure that you will definitely receive additional funds, use the services of a company offering loans without checking the bases.
Loans without checking databases in the Economic Information Bureau – the so-called BIG
Economic Information Bureaus are institutions collecting, storing and sharing data on unreliable customers. Also commonly called debtors’ registers or blacklists. From 2010, the legal basis for their operation is the Act of 9 April 2010 on the provision of economic information and the exchange of economic data. The National Debt Register, BIGInfo Monitor and ERIF Register of Debtors are Credit Information Bureaus, most often verified by non-bank lenders. Each BIG operates independently and maintains a separate list of debtors. There is no flow of information between them, they are competing with each other.
Unlike BIK, the information collected in the Credit Information Bureaus relates only to the current debt. If you pay your liability, the creditor will be required to delete your data from the register. And there won’t even be a trace of debt.
How can I get to BIG? Does an entry in BIG discredit me when granting a loan without bases?
Not everyone knows that you can get to BIG not only for late repayment of loan installments or loans. A delay in payment for electricity, rent or a mobile phone may result in the customer’s data being entered in the debtors register.
Recently, unreliable alimencers and people who avoid paying the fine may also be included on the “black list”.
For a creditor to be blacklisted, several conditions must be met:
* the amount of debt should be at least $ 200 for a private individual and $ 500 for a company;
the repayment delay should last at least 60 days.
At least 30 days before the planned entry, the creditor should send the debtor a registered letter with information about his intentions.
Entry in the register of debtors and creditworthiness – is there a chance for a loan without BIK?
If your data is in the registers of Economic Information Bureaus, you may have serious problems with taking a bank loan. In the case of loan companies, the situation may or may not be similar. The lender’s decision is influenced by as many as several different factors. If you have a stable, sufficiently high income, you have a great chance to get additional financing. Even if your details are in the debtors register.
If you want to be sure that your blacklist entry will not affect the lender’s decision, use the services of a company offering non-bank loans without checking your debtors’ databases.