Loan companies offer so-called “Loans without BIK” – which particularly encourages people with debts. What does this product consist of and is it beneficial for the customer?
BIK (Credit Information Bureau)) is probably the most well-known database of borrowers in Poland. The database contains data on timely repayment obligations, as well as delays and debts. Rules for choosing an online loan from the wallet website. On the basis of the BIK report, a borrower’s scoring can be developed (so-called credit scoring).
Importantly, BIK may collect and process information on outstanding liabilities for a period of 5 years without the borrower’s consent. Information about liabilities repaid on time is in turn processed from the moment of their transfer to BIK (i.e. taking out the loan) until its expiry or the moment of consent to the processing of such data.
What does this mean in practice?
How do we take out a loan? – read it. When we apply for a loan or a loan, the bank sends a request to BIK about our situation. If the customer appears as a debtor in the database, they will certainly not get a loan. In turn, a positive credit history usually translates into issuing a positive opinion and granting a loan / credit.
It follows from the above that persons who do not pay their liabilities on time and are in debt cannot count on the assistance of the bank. Popular payday ranking available on the internet. However, a certain solution is the services provided by loan companies – the so-called loans without BIK.
A loan without BIK is characterized by the fact that the lender will not verify the client’s creditworthiness – he will not read the client’s report from BIK. Thus, when considering the loan application,
Any debts or late repayments of liabilities are not taken into account
Moreover, the lender also does not check whether the customer has any other obligations that he pays off on time. Online wallet online – your financial service. At the bank, even timely repayment of liabilities may cause that the loan will not be granted – in particular when there are a lot of them (the bank considers that the next commitment the client will no longer be able to repay).
Due to the fact that loans without BIK are subject to a very high risk of insolvency, loan companies are trying to somehow secure themselves. To this end, they use high interest rates and numerous additional fees (primarily insurance). Therefore, APY of such loans is very high – not always beneficial for the client.
Is it worth using loans without BIK?
For some people, this is the only way to solve financial problems. However, be careful not to fall into a spiral of debt. Non-payment of a loan (also loans without BIK) may lead to serious consequences – from paid reminders and reminders to referral to a debt collector and bailiff.
We choose popular internet payday loans. In addition, one has to take into account that the resignation from verification of the customer’s creditworthiness is associated with the imposition of “insurance fees” on the borrower – e.g. a very high interest rate. A loan without BIK can be treated as a kind of last resort.