What is CREDIT CHECK?
As you know, every client of non-banking institutions should take into account the need to undergo verification in the debtors’ databases.
Along with the growing phenomenon of loan scams, more and more entities began to appear which were to cut off unfair practices. One of them is CREDIT CHECK. What is this? How it works? Should we be afraid? Find out with us.
CREDIT CHECK and online loans
The BIK database is one of the most popular registers used to verify creditworthiness. However, for most, this is where knowledge about this topic ends. Few potential borrowers know which other databases loan companies use. The exception are people aware of the registers in which they were recorded themselves and for this reason their application for financial support was rejected. However, it’s worth knowing where we’ll be verified to avoid any problems getting a loan online.
CREDIT CHECK is one of the solutions that enables the exchange of data between entities on the lender market. The information contained in the database may provide some applicants with serious worries.
CREDIT CHECK – what is it?
For the needs of the non-bank loans market, a system was created in 2016 to enable companies to access the information they need to make a credit decision. The CREDIT CHECK database contains data on 2.5 million customers.
Thanks to this solution, a company providing online payday loans can receive a credit history of the person interested in it, which will contain information even three years ago! In addition, for those who want to deepen their knowledge about the non-banking sector, statistics will be available periodically on the official CREDIT CHECK website.
CREDIT CHECK – how does it work?
The CREDIT CHECK database collects information about delays in repayment or lack of obligations. This means that both negative and positive information can be found in the registry.
As in the case of the National Bureau of Economic Information, because both of these databases exchange data with each other. CREDIT CHECK allows lenders to spread opinions about potential clients. The basic information companies can search for is exceeding the repayment deadline by at least 60 days.