Having sufficiently high creditworthiness is required to obtain a bank loan. In accordance with the recommendations of the Financial Supervision Authority, each bank, before issuing a credit decision for its client, must check its current financial position using, among others, the Loan Information Bureau databases. The database contains information about borrowers. Timely repayment of the liability builds a positive credit history. Are the timing loans considered in this case?
Information from Retrodatabase
The Credit Information Bureau maintains databases of all borrowers in in our country. Banks and cooperative savings and credit unions are obliged to provide Retrodatabase with information about borrowers and their liabilities. Increasingly, loan companies also cooperate with Retrodatabase, which, among other things, offer payday loans. Thanks to this, you can build a more complete picture of the financial situation – current and shaped in the past, a client applying for another commitment in a bank or loan company.
You can not identify the Credit Information Bureau with so-called “Black list of debtors”. Information available in Retrodatabase databases can build the image of a reliable borrower who repaid his liabilities on time. Such a story will make it easier for him to take loans or borrowings in the future, often with simplified formalities and preferential terms.
Does the weekend affect the creditworthiness of the client?
The creditworthiness of a person applying for a loan or loan is calculated by the institution on the basis of the amount of income and costs incurred for living, car and apartment maintenance or other individual obligations. When calculating the creditworthiness, the client’s current liabilities are taken into account, including incurred debts. If the customer repays the loan regularly, without delay, he will be more credible to the lender or lender than the person who in his credit history has no entries. Banks, and sometimes also loan companies, look favorably at clients who pay their debt in a timely manner and at the same time consistently build a positive history at Retrodatabase.
Information in Retrodatabase regarding payday loans will be recorded if the financial company cooperates with this institution and provides data about its clients and the mode of repayment of liabilities to them.