Customer verification in a loan company
Since loan companies are not subject to the Banking Law, they are not obliged to check the customer’s credit history at the Credit Information Bureau. Put simply, the person requesting a payday loan does not have to worry about not getting money if he has any problems paying off cash, car or mortgage installments, a credit card or a bank loan, and thus has a bad credit history at BIK. Although several lenders cooperate with the Credit Information Bureau, it is a small group. However, other non-bank companies do not distribute payday loans to each borrower. This is due to the fact that they give payday loans from their money, and therefore they want to recover the borrowed funds. Especially reliable non-banking companies which follow the principles of responsible lending ensure that the risk of granting payday loans is as low as possible. On the one hand, they care about their own interests. On the other – they protect the customer against excessive debt. For them, the basic way to verify which payer they are dealing with is to submit a question to BIGs, where the relevant information flows from financial institutions and various types of service providers. see http://senbernar.com for more notes
To BIG for debt over PLN 200
The most famous so-called The black list, where you get for non-payment of financial obligations, is KRD, or the National Register of Debtors. In addition, there are two more economic information offices – ERIF Register of Debtors (run by the debt collection company KRUK) and BIG InfoMonitor. An entry in the debtors database may appear if more than 60 days have passed since the date on which we were to pay the installment or bill, and the amount of the debt exceeds PLN 200. In the case of entrepreneurs, the debtor is the one who is in arrears with a repayment of at least PLN 500. There is only one way to disappear from an infamous base – you have to pay back the debt. It is worth adding, however, that BIG-i not only collect negative information, but also constitute a database with positive entries, i.e. information about the fact that we are reliable payers and we care about timely payment of liabilities.