A huge number of banks today are ready to provide assistance to solve most of the financial problems and needs. A loan can be obtained either by a firm or a company, or by an individual. Over the past decades, such agreements have been firmly rooted on an ongoing basis. A lot of life situations are forced to apply to the banking services of a simple man in the street, in the hope of a positive response when applying for a loan. The first, as well as subsequent similar appeals, are recorded and stored in archives for 10 years and has a name – bank, credit histories. They form the credit score of a person.
What kind of information is stored credit bureaus
When it comes to the check of credit history, people turn to credit bureau. What kind of information is stored there?
- Personal data (passport), identification code, information on employment, marital status and so on.
- Information on monetary obligations: size, parties, step by step payment and closing of the loan. Also, data on overdue payments with detailed descriptions of subsequent payments are saved.
- Information about the solvency: if any, there are all sorts of problems with ship decisions on property or loan agreements, taxes.
When you make a new loan, only with the consent and official permission of the client (mainly when drawing up the contract), the credit history is checked. The bank produces a request to the main database of the bank involved in the agreement in order to approve or reject the request of the borrower. There is also the EIS – “Register of Borrowers” (Unified Debtor Information System), created to reduce the risks in transactions.
Why do you need to care about you credit score?
If there are errors in the payment of credit funds in the past – bank credit history will be spoiled, and the chances of getting help in almost any branch of the bank are reduced to zero. That is why it is necessary to carefully observe the conditions prescribed in the contract.
Example. I turned to the branch of a Bank to get money for a new mobile phone. They refused, saying that I didn’t pass a credit history check, although I hadn’t applied to this bank before.
It often happens that during his life a person can use banking services many times and get loans in various institutions: to buy equipment, cars, food, and so on. There is no need to keep records, as it is possible to check credit history online. Using the Internet at any time to get information about whether you are a desirable client or not.
Each online credit history check will cost some little money, however one is free, once a year. If you decide to take a new loan and check for free if there are no fines or negative history behind you, you will have to send a letter by mail directly to credit bureau with a full list of required documents. All of the following documents must be certified by your signature and date:
- passport data, first and second pages. Also the third one with a stamp about registration
- photocopy of tax identification code
Information about frequent cases of fraud will also be useful. Often the debtor, without making out a loan on his own, is faced with the fact of debt. In order to avoid such frauds, it is necessary to make secure and the Status Control service will help in this. Using this option, you will receive messages on your phone, and you will be able to monitor any changes in your credit history: repayment, debt, attempts to issue, and so on.