Have you taken out a loan and you have not repaid it by the due date? See when our data goes to the databases of indebted people!
It is certain that financial obligations should be settled. Market data shows that over 90% of Poles pay their debts on time. The remaining percentage has more or less debt. The lion’s share of debtors (nearly 70%) has a debt of up to $ 5,000.
Any past due debt is a potential threat to future liquidity. We must remember that information about overdue liabilities may go to banks or companies providing non-bank loans, telecommunications, which may constitute restrictions on using their services.
Where does the debt information go?
We must remember that there are entities collecting, storing and sharing data on unreliable debtors (companies, private individuals). They operate on the basis of the Act on access to economic information and exchange of economic data. Their operation is subject to the control of the Ministry of Development. The offices keep a register of data thanks to which we can assess the payment credibility of the client, contractor. This can be both information about unreliable entities and positive data, informing, e.g. on the timeliness of paying obligations. There are currently five economic information bureaus in Poland: ERIF Economic Information Bureau, BIG InfoMonitor, National BIG Debt Register, National Economic Information Bureau (KBIG) and National Telecommunications Debt Information (KIDT). The registers they keep are created independently and I have no information flow between them. The lists of debtors from each institution will therefore be different. It is recommended that if you check the credibility of the applicant for a cheap payday pay, you should send a query to each of the databases separately.
When will information about our debt appear in the debtors register?
The appearance of an entry in the database of the economic information bureau is strictly defined by law. Three conditions must be met:
● The liability arose from a consumer loan agreement, a loan agreement with a company providing, e.g. payday loans, contracts for the provision of postal and telecommunications services, transport of persons and luggage in mass communication, supply of electricity, gas and heating oil, water supply and drainage wastewater, waste disposal, heat supply.
● The total amount of liabilities is at least $ 200 and their liabilities have been due for at least 60 days.
● A month has passed since it was sent by registered mail or delivered to its own hands a warning about the intention to transfer data to economic information bureaus.
Transfer of data on the debtor is also possible if the creditor has an enforceable title for the obligation.
How long have we been in the debtors register?
Nothing lasts forever. Also an entry in the register of debtors. Of course, the condition is full repayment, often with penalty interest. In such a situation, the creditor is obliged to delete the entry immediately, no later than within 14 days of repayment of the debt.
Be responsible. Pay on time.
Each of us can check at any time what information about us has been collected by individual databases. We’ll find out who added us to the database, on what basis and the amount of the commitment. Just fill out the appropriate form, e.g. available on the website, to get a report about yourself.
Remember, using financial products, whether bank loans or quick online loans, we plan to pay them in advance, ensuring timeliness. It is very easy to borrow a cheap long-term loan for $ 10,000 that you will pay back within 24 months. Otherwise, we are at risk of entering into the register of debtors.