Credit history directly depends on the possibility of obtaining financing by the borrower. Data with delay or non-repudiations will affect the final cost of the loan. In this case, the borrower will be forced to contact the microfinance company or to unauthorized market participants — the creditors categories that partially ignore the request to the credit bureau.
Each time, successfully returning a loan, the debtor increases its rating. In case of delay or non-return of the amount of debt, the rating falls. The status of the rating directly depends on the condition of issuing a loan to the applicant. Bad rating — Refusal is guaranteed. A good rating can affect the following key factors:
The state is authorized not one, but several credit agencies. Each of them collects data, and for the fee transfers banks or microfinance companies. Each agencies may have a common base of registries. Thus, the data on the borrower is identical in the database of several credit agencies. The client information will be available only if the bank or microfinance organization submitted the rating data.
The client is entitled to take advantage of the credit history check option for no more than 2 times a year!
In the presence of an electronic signature, the bureau of credit stories instantly authorizes the necessary information. If the applicant does not have a signature, you can get data online, indicating and verifying mobile phone and personal data. Information in the ranking is updated late in one day.
The applicant can visit the office of the Bureau personally. This requires only a passport. Information can be provided within 15 minutes — you must fill out the application and wait for the answer.
You can also absolutely
Always check the data when contacting the financial institution for receiving a loan. So you can accurately identify your own chances of accepting an application and evaluate financing opportunities. There is only one possibility of improving the credit rating. The borrower must have successful repayment experience. Use the credit card in contact, repay transactions and increase your own indicators.
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