Today, there are a huge number of different companies that provide financial support to their clients. Money can be taken to purchase household appliances, furniture sets, clothing, motor vehicles, to open and develop a business, and even to buy your own home.
Of course, money is not provided free of charge. In accordance with the provisions on conducting this type of activity and the law, the lender does not have the right to lend money without accruing interest. In addition, to receive financial support, you will need to meet a number of requirements. The most important of which is the presence of an unblemished reputation, namely a good credit history.
What is credit history?
One of the main tools of financial companies is credit history. Using it, bank representatives can evaluate the loyalty and reliability of their potential clients. Due to the presence of positive credit history, any borrower in 97% of cases can expect to receive approval for any cash loan. If there are “black spots” in it, the chances of success fall several times.
In order not to waste time, you need to find out the state of the CI in the BKI (Credit History Bureau). Any citizen of the country can use this service for free only once during the year.
When will I have to correct my credit history?
First, the need for this may arise when a real discrepancy is found between the entries made in the document and the actual state of Affairs. This applies to an incorrectly specified borrower address or a mismatch during initialization. In this case, the refusal will follow immediately.
Secondly, if previously taken loans were paid in violation or were not returned at all. If the borrower had problems with repayment of money loans, then they will need to correct their credit history, otherwise, the way to the banks will be ordered for them. You can change the situation using the MKO.
Third, if the customer applied for a loan for the first time in their life. This may arouse the bank’s suspicions. The absence of entries in this document is just as bad as the presence of negative marks. After all, the lender does not know whether the client will be able to pay the loan in the future or not?
Is it solvent? Banks are worried and may refuse to issue a large loan. To fix this situation, you should take out a few small loans and pay them off within six months. This will form a certain picture and make it possible to get maximum financial support.
To correct any errors found, you should contact the Credit History Bureau and provide them with documentary evidence of the new data. It is best that all documents are notarized.