Many people are afraid of a negative entry in the BIK. Often, a small delay in paying installments is enough to ruin the credit history of a potential bank customer or loan company. Interestingly, BIK checks are often afraid of people who have never been behind with any payments.
In this situation, many companies tempt customers with loan offers without BIK. This solution obviously has its advantages and disadvantages, which should be known more. You should also learn more about the Credit Information Bureau itself, what information it actually collects and how it affects our credit history. Thanks to this, we will be able to assess whether, for example, an online loan without BIK and certificates is really a good idea in our situation.
Registers of debtors
Registers of debtors are databases in which data on persons having problems with repayment of various types of debt is collected. Institutions of this type are subject to the Economic Information Bureau. The most famous is the National Debt Register. In addition to KRD, there is also ERIF and BIK. Registers deal with the provision of economic information on the amount of debt, settlement of a liability within a set time or lack thereof. They are used by banks as well as non-bank companies, because this type of information is a source of knowledge about the credibility of a potential customer.
What is BIK?
Everyone who has applied for a loan at least once knows that financial institutions assess their creditworthiness on the basis of many different factors, including information obtained from BIK. The Credit Information Bureau is an institution that was established in 1997. Its most important task is to collect and store credit history data and current liabilities of bank customers and credit unions. The Bureau’s role is primarily to reduce borrowers’ excessive debt and to promote responsible lending. The information is sent to BIK when someone takes a loan in SKOK or a bank. Until the end of loan or credit repayment, the collected data is updated at least once a month. Negative information collected by the Credit Information Bureau is one of the main reasons for refusing a loan. In this situation, it is not surprising that loans without BIK are very popular.
Loans without BIK – for whom?
An online loan without BIK and without certificates is an offer sought after by many people. Of course, it is a very advantageous solution from the point of view of people who have a bad credit history and their fears of checking entries in BIK are justified. These lending clients usually just don’t get a chance to get another loan. This type of offer is also used by people who want to keep all formalities to a minimum, for example because of the waiting time for money.
Loan without BIK – advantages
Of course, the biggest advantage of a loan without BIK online is the fact that incurring this commitment is not related to checking your credit history at the Credit Information Bureau. It is of course worth remembering that the Office does not only collect negative information. His registers also contain positive entries about the timely settlement of obligations. People who have repaid all loans and credits on time have no reason to be afraid of BIK. Quite the opposite – in their case, it is generally recommended to use the offer of a company that checks records in the Office. For example, you can get a higher loan or better contract terms thanks to good credit history information. Therefore, loans without BIK via the Internet are profitable mainly for people who, due to previous negligence, had a bad credit history. In their situation, bypassing the Office is often the only way to get a loan.
Loans without BIK online – disadvantages
If you don’t check your credit history, you can get a loan if you normally wouldn’t have the chance to borrow money. Loans without BIK online are an opportunity for people with bad credit history to receive an obligation that they would never have otherwise received. What is the negative side of such offers? The main disadvantage that unsecured loans over the internet have is high costs. Of course, such loans carry much more risk. If a non-banking company does not know the loan history of the applicant, he cannot assess the chances of repaying the liability in a timely manner. Unfortunately, in many situations people who have had problems with paying their debts in the past still have a rather poor financial situation. This means that there is a high probability of problems with paying off another commitment. It also happens that customers using such loans have not repaid their previous debts, but the company has no information on this.
An online non-bank loan without BIK is therefore associated with a higher risk for the loan company. This situation translates into higher costs of the loan, because not all debts can be enforced. Companies must reckon with the fact that they do not recover all the money, so loans for the indebted are simply higher interest or burdened with a higher commission.
Is borrowing without BIK profitable?
Not always an online non-bank loan without BIK will be much more expensive. If you are looking for such an offer, it’s worth checking the ranking of payday loans online. Thanks to such a ranking, we will be able to actually compare the available solutions and see which will be the most profitable. Bad credit history does not mean that we are doomed to incur very high costs of borrowing.
Types of loans
There are several types of loans available on the market designed for different clients, which can also be obtained without BIK. In many situations, an online installment loan is the preferred solution. Spreading the repayment of the contracted liability over several months will be particularly beneficial for people who are not in a good financial condition. A short repayment period is a lot of stress and a big financial burden.
In the case of payday loans for very young people, your credit history is not that important. The payday loan from the age of 18 is intended primarily for people who have recently reached the age of majority, which means that in many cases they take out their first loan and in principle do not yet have a credit history. On the other hand, they could already have made some ill-considered financial decisions.
Loans for those in debt
We can also find loan offers specifically for people who have no creditworthiness. Such an obligation can be obtained, for example, irrespective of the amount of loans and borrowings held and the amount of installments regulated each month. To receive a positive response to a request, you often only need a statement about your financial situation. Of course, in the case of loans for indebted persons, not only BIK entries are checked, but also information in other registers such as KRD. BIG and ERIF. Even if the economic information bureaus have information about debts and even bailiff seizures, this does not preclude the chance for a loan. Many loan companies have such an offer. Therefore loans for indebted persons are available to practically every person who achieves a stable income.
Of course, all loans intended for people with bad credit history, those in debt, the unemployed and generally in bad credit conditions have higher costs. Unfortunately, loan companies must protect their interests. Sometimes, however, you can find exceptionally favorable offers, such as the first free loan. It happens that such free loans can also be obtained without BIK. Before you decide on this type of solution, however, it is worth to carefully read the contract and check the consequences in the absence of timely repayment. Costs related to late repayment can make free payday pay off. Such loans are only beneficial if we are absolutely certain that we will pay back all borrowed money before the deadline provided for in the contract, which can be difficult if our financial situation is not good.
An online non-bank loan is an increasingly popular solution that allows you to bypass formalities related to bank loans. People who have had problems with systematic repayment of all their liabilities in the last few years may have great problems with taking out a loan or credit. In such a situation, a firm offer that does not check your credit history may be the only solution available. Despite the higher costs, loans without BIK are still very popular, because some customers of non-banking companies simply cannot take advantage of another offer.