All information about how we repaid loans in the past (including cash loans) is our credit history, which is recorded in BIK.
In the Credit Information Bureau, 24 million Poles have data on this subject and they are both positive and negative. In the first case, it concerns information about the timely repayment of individual loan liabilities, while in the second case it concerns all delays. Together, they form a credit history which, in the form of a BIK report, is made available to banks if they want to check it when considering the loan application of a given person or company.
If there are a lot of late payments in BIK, especially those over 30 days, the report on our credit history will be negative. Exactly this is the BIK point score, so-called scoring will be lower accordingly. Unfortunately, this may have an impact on the bank’s rejection of the credit or loan application.
Get a payday loan with bad credit now
Negative entries in BIK do not necessarily mean that you can not borrow money. In fact, we have at least some solutions to a difficult situation, even if the bank refused to give us credit. Below are the ones that usually work.
1. A non-bank loan
Getting a loan with a bad credit history is usually much easier on the non-banking market. Loan institutions, even if they use different databases (BIK and BIG), do it completely differently than banks. In other words, it usually means milder.
It is worth trying to get the cash you need even at companies offering loans over the Internet – in their case, formalities are kept to a minimum, which in practice means that when applying for funding, simply complete the online form and have a valid ID card and bank account.
If we have income at the level that allows you to repay the loan within the prescribed period, your request will probably be approved. It is worth knowing that, unlike banks, loan institutions take into account various sources of income – for example, for maintenance or contracts of the mandate.
If you want to use a loan with a bad credit history, you can also count on a quite high loan amount. For example, if we decide to apply for a bad credit payday loan via the Internet at greenstart.net home page, we have a chance to borrow up to 7,000 dollars.
2. Improvement of credit history at BIK and another application after a few months
It happens that we learn about the bad credit history in BIK when the bank refuses to credit us. It is worth checking in such a situation if the report on this subject has been prepared on the basis of correct information. Perhaps an institution did not provide BIK with data on the timely repayment of liabilities – it can be easily checked by ordering the so-called report about yourself.
If the negative information in BIK is correct, it is worth making an effort to improve your credit history. Even if we decide to use, for example, a non-bank loan, improving your credit history may prove useful in the future. How to improve BIK scoring? Here are a few ways:
– the repayment of overdue liabilities as soon as possible,
– in the case of large arrears – negotiations with financial institutions to change the repayment terms into more friendly and realistic, and then meticulously adhering to new payment terms and ensuring that the creditor makes appropriate entries in BIK on this subject,
– in the case of historical backlog, attempt to take the minimum loan and its timely repayment, which will be noted in the BIK.
It is worth mentioning that there are companies that offer BIK cleaning. It should be considered for this kind of services because negative entries cannot really be deleted – BIK has the right to process the information on untimely repayment of debts for 5 years. It is only after this time that we can independently apply for the deletion of this data – this should be done in the institution where the commitment was made.
3. A loan from friends or family
This is another solution in a situation when we need a loan with a bad credit history, i.e. simply a loan without BIK. Family and friends can not order a report about us (only financial institutions can do it ourselves), so they do not need to know about our financial problems in the past. Of course, if we can borrow money from them, it is worth paying them back on time. Thanks to this, we will gain the trust of lenders, who will not refuse to help us next time.
For people who have neglected the issue of their credit history in the past, the easiest way to obtain the cash is non-bank loans. Many companies even offer loans for indebted people, that is why in a fringe situation, it is worth using their services.