Alternatively, could you tell me which payday loans can be seen in BIK? once all non-bank loans were not visible in BIK, but from what I see, it slowly changes.
If I knew if this unpaid payday loan will be visible or not visible to the bank, then before applying for a loan to refurbish an apartment, I would first pay this payday loan, but it will take me a long time. I am asking for quick advice.
Which payday loans enter in the BIK?
Each bank in Poland is required to exchange information with BIK on a bilateral basis. Banks must not only download BIK reports during the borrower’s verification but also provide these data to BIK.
For this reason, every operation that we will perform in a bank branch or via electronic banking will be visible in BIK. Of course, this is about banking operations such as:
- opening/closing a bank account,
- using an account overdraft,
- credit card use,
- taking out a bank loan or credit, etc.
But are private loan companies doing the same? that they must share and share data about their clients? if so, when will the payday loan be visible in BIK? The first loan company that began sharing its clients’ data with BIK was the Wonga loan company (2013), as soon as Wongi joined the BIK, other loan companies also started providing payday loans.
Thus, a loan company that has a contract with BIK and works directly with it is required not only to download this data from the BIK register, but also to transfer it to BIK, ie a payday loan taken from a loan company that cooperates with BIK will be visible in the register.
Payday loan and BIK
However, before the loan company transfers your data to BIK, it must obtain consent from you, the loan companies obtain their approval in automatic mode, asking you when taking a payday for consent to share data with BIK.
Often in the rules of the loan company, which must be marked as read, you can most often find such an entry.
By checking and accepting such a provision in the rules of the loan company where you take out the payday loan, you agree to share your data in the BIK register, then the BIK will receive the information that you have taken the payday loan or when you are late paying it (at least 60 days), and even when you pay the payday loan in full.
Instantaneous payment versus creditworthiness and bank credibility
The payday loans (in most cases) are visible to banks that verify your creditworthiness, and download the BIK report to assess with the help of BIK scoring – your credibility as a borrower.
However, unfortunately you did not provide the name of the loan company where you took out payday loans, which is why I am not able to tell you whether this loan company cooperates with BIK.
Of course, you do not have to apply for a loan to renovate your apartment now to check if the outstanding payday loan is visible in the BIK, you can check it yourself by downloading the BIK report yourself and for your own use.
Above is a list of payday loans payable to BIK. Every year there are more and more loan companies that are going to cooperate with BIK in the exchange of data.
This is a big advantage for loan companies because a given loan company will easily track down and x-ray a borrower who has a large debt and bailiff proceedings.
Thanks to the exchange of data with BIK, the loan company has a chance to catch borrowers who are ill-advised and do not care about their financial possibilities when taking loans.