On the Internet, there are more and more opportunities to check customers and an increasing number of companies use them, which also applies to loan companies.
At the same time, on the financial market, also mechanisms are introduced that allow you to study, among other things, the history related to clients’ financial liabilities.
Such tools include, among others, information in debtors’ databases such as BIK as well as BIG and KRD.
The less information the loan company checks, the obviously it is much easier to get funds in it. However, one has to take into account that there is a general rule that the less risk a financial company takes when granting loans, i.e. the more information about the client the company checks, the more favorable terms on which loans are granted can be counted on. This is due to the much lower risk a company takes when granting loans .
In general, most loan companies check information in debtors’ databases. However, in the case of BIK, loan companies that are not banks are not able to check information at BIK without the consent of the clients. However, more and more companies check information after obtaining such consent from customers, which is required at the stage of applying for a loan.
Formalities when applying for loans
Loan companies may have formalities in various ways, which must be met when you want to borrow money. They may request from clients, inter alia, various documents in the form of, among others, documents confirming employment or confirming income.
Of course, the formalities always extend the time of applying for a loan. If you want to get funds in the shortest possible time, it is worth looking for companies that offer their financial products with minimal formalities. The time of examining the applications after the delivery of the relevant documents is also important.
It is always worth finding out at once in the loan company what documents you need to have when you want to get a loan . This allows you to prepare relevant documents before submitting the application.
Documents checked by loan companies
In companies offering loans, information such as the indicated place of employment can be checked. Such companies request presentation of information regarding the telephone number to the company in which they work. Many companies may contact companies in which borrowers are employed when they do not require confirmation of employment. This allows you to check much faster if the person is actually employed.
At the same time, there are companies requesting confirmation of income. This may apply to both documents that are obtained by the employer and concerning permanent income under a contract of employment. At the same time, many companies only require the presentation of statements from bank accounts where the revenues constantly affecting the bank account are indicated.
This is a much faster solution, as you can of course get a bank statement in a much shorter time.