If you are not a regular borrower of banks and MFIs, you may not even know what a so-called credit history is. In this case, we recommend filling this "gap" with the help of our article. It will also allow you to understand whether your "dossier", generated by the UBKI, can really make a big difference.
What is credit history?
Referring to the site Incredit , you will see a list of numerous licensed MFOs in Ukraine: each company presented here offers instant loans to potential and current clients. Take a microloan, pay it off, and the lending information will be transferred by the organization to the Bureau of Credit Histories.
By the way, data is sent to UBKI not only by MFIs, but also by banks. For each borrower, the Bureau has a dossier with records:
- About loan amount and loan term;
- About interest rate;
- About the history of payments (timely payments, delays, their duration, etc.).
Gradually, as the citizen borrows money over and over again, the credit history is replenished with more data.
Any UBKI dossier has three mandatory parts: title, main and additional.
- The title section contains the debtor's full name, birth information, passport details and other basic personal data.
- The main part contains all information about any issued loans and microcredits, tells about the payment discipline of the borrower (whether he made delays, whether creditors filed a lawsuit against him, whether there were proceedings with collectors and etc.). Here you can also find an individual rating that shows how desirable a client is for banks and MFIs a citizen.
- An additional section contains information about who provided and who submitted a request for CI information.
Now let's talk about whether a long and positive credit history can really be something useful for its owner.
The practical benefits of a good credit dossier
Having an impeccable credit history, a person receives the following benefits:
- For almost any bank, and certainly for any microfinance organization, it becomes a desirable client. Subject to all other conditions (for example, to the documents submitted), he may not be afraid of a loan refusal;
- When determining the individual interest rate, lenders take into account the data from the BCH files. If the reputation of a potential client leaves much to be desired, a credit institution will lend money at an increased interest rate. Ve�
