Borrowing a loan
Surely every person who even knows a little about borrowing and loan topics has heard about the Credit Information Bureau. It is a special institution established over a dozen years ago, in which data on all borrowers and borrowers are collected. Banks, credit unions and other loan companies have access to this data (provided that we allow them). Thanks to the obtained data, money lending institutions have a good understanding of the client’s “quality” and know if they can give it credit or not. For BIK collects all data related to current loans and loans, as well as those repaid. There are tan accurate information about how much a person has a debt, whether it repays it in time, how much installments are, etc. The same information can be obtained about the debt already repaid. Therefore, if a bank or other lending institution notices that the client already has a lot of loans, or does not repay them on time, he can refuse the loan application. Of course, this works also and the other way round. If we are good borrowers and we pay all liabilities on time, the bank will check it quickly and there will be no problems with borrowing money.
The banks and credit unions must obligatorily use data from BIK. Of course, the interpretation of the data obtained is individual and each bank based on its own procedures applies to them. However, if someone has or had problems with paying off the debt, he may have a big problem if he wants to borrow money. But apart from banks and Credit Unions, we can also borrow money from private individuals or in recent popular loan companies. And here we have good news for those who do not have a good BIK file. Well, not all loan companies check their clients’ data in the records of the Credit Information Bureau, in other words, they have no BIK in their offer. What does it mean? Well, even if we have a lot of loans or we pay them back late, the loan company in which we apply for a break will not know about it, because it will not check our data in BIK. Of course, we must immediately realize that such payday loans without BIK are much more expensive than loans granted by banks or Credit Unions. Simply companies which provide them bear greater credit risk, which they compensate with higher costs. However, sometimes we just have no way out and we have to take advantage of such a short time without BIK.
People who have or have had problems with paying off their debts will certainly not get another one easily. Unless you take advantage of a no-BIK payment service offered by one of the loan companies. However, we must know that these are expensive loans that may lead us into further financial problems in the future. And it is better to avoid them.