Credit bureau: what it is and what it is used for

Credit bureau: what it is and what it is used for

What are negative Credit bureau loans and how do they work? Failure to pay the installments causes short-term problems (e.g. blackberries), but also long-term problems. It is very difficult for so-called bad payers to finance themselves. This happens because a company called Credit bureau produces data and makes it available to banks, disseminating information about the funded. However, there are loans with negative Credit bureau.

Credit bureau is a company that collects data on white women ‘s customers. The database represents an essential resource for lenders, since it can be consulted to determine whether an individual is able to fulfill his burdens or not. It follows that the inclusion in the list of “bad payers” affects the latter access to financing.

In addition, the funded candidate cannot consult the data at his / her liking, so the risk is facing a refusal without knowing why. The law, however, requires Credit bureau to set aside those who request it regularly. The process is very slow and it can take up to three weeks.

Loans with negative Credit bureau: registration in the register

Loans with negative Credit bureau: registration in the register

Registration in the “negative” registers of Credit bureau, it must be said, is temporary. The length of time your name remains depends on the gravity of the infringement. If an individual does not pay an installment, his name remains for twelve months following the remediation.

If the installments paid are two, the name is canceled two years later. In the remaining cases, three years later. At the end of the latter, the database simply loses memory of information about a particular person.

Loans with dirty Credit bureau: the alternatives

Loans with dirty Credit bureau: the alternatives

It is very difficult to access a loan for colors that are registered in the register of bad payers, at least following traditional lines of credit. However, it is possible to take advantage of loans with negative Credit bureau, although the products offer extraordinary elements. Here are what they are:

  • Loans with guarantor. In this case, the protagonists of the financing are three: the funded, the financier and a guarantor. It is a “third party” who literally takes responsibility for any non-payment. The guarantor must offer guarantees on all fronts, must have a stable income, a clean “credit record” and so on.
  • changed loans. It is a sui generis product because the installments are transformed into bills of exchange. The danger of insolvency remains, but banks’ collection powers are much greater. The bills in fact confer executive capacity, and allow you to proceed with the attachment almost immediately.
  • Loans with assignment of the fifth. Not all banks reserve this product for bad payers too. In any case, the danger of insolvency is compensated by the automatic mechanism for collection of the installment, which is literally deducted from the paycheck of the funded person.

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