Once, when non-bank companies entered the financial market, all we needed to obtain a loan was a certificate of income or pension or retirement pension. And that was enough. Technology, however, has advanced a lot, we are no longer as anonymous as we used to, we are found in various databases.
Also the history of our previous debts is no longer our individual matter. If the lender wants to check our credit history, he’ll just do it.
Until now, non-bank companies have checked our reliability in debtors’ registers in terms of paying bills for telephone, energy or other invoices. Now they use the Credit Information Bureau meticulously for verification purposes, where our entire credit history or the Association of Credit Companies is located.
This association brings together the majority of cash loan companies.
Are there still cases that the loan will be granted to us without checking the databases? At present, we have a fairly stable financial situation, we have repaid most of our liabilities, but the debtors’ bases still show our previous problems with financial liquidity. Then what?
We have quite a lot, even in companies verifying our previous situation. They usually approach each client individually and the final decision is in their hands.
We can also find companies that do not use such debtors’ databases at all, and the loan can be obtained even by persons with bailiff seizure. The only condition that we must meet is that we must be in a pretty good financial position at the moment, which will ensure that we can repay the new loan.
So, we must be employed permanently, for an indefinite period, and our bank account must receive a salary every month. In this way, the loan company checks our financial liquidity.