Banks, through the creation of the Credit Information Bureau, have obtained an excellent database allowing them to verify persons who apply for a loan or a loan. Thanks to this, they can easily and quickly “catch” applicants who either have too big debts and simply can not afford another loan, either pay off their liabilities late or do not repay them at all. This allows you to reduce your credit risk, because as you can easily guess, these people can forget about another loan. Does this mean that people with debt will not get a loan anywhere anymore? Of course not, because in our country there are many loan companies that either do not check the debtors’ registers, or approach the obtained data more tolerantly
Only a few years ago, only banks and Credit Unions benefited from the registers of the Credit Information Bureau. Currently, more and more loan companies are also checking their clients in these registers. However, a large number still does not do this, which makes it much easier to get a loan for people with debts or a bad credit history. Of course, these are loans much more expensive than bank loans, as well as those provided by companies that BIK registers check. Why? All in relation to the increased risk that these companies incur. By providing loans without checking databases, they significantly increase the risk of losing money. Because, as statistics show, if someone already has debt or is a client who has problems with timely debt service, the repayment of a new loan can also have problems. Therefore, in order for the company to quickly fail due to customers’ insolvency, it raises the costs of its loans and people who pay their debts on time allow the company to make profits. It can be said, therefore, that people who pay their debts on time bear the consequences of the unreliability of a certain group of borrowers.
Obtaining a loan without checking the databases is possible. But if we already have debt or in the past we had problems with its repayment, we have to think carefully whether the new loan will not be too much of a burden for us. Therefore, before submitting the application, let us consider whether it is really needed and whether we can not do without it.