The concept of credit history implies the history of contractual relations between lenders and borrowers with an indication of the loan repayment terms, interest payments and possible payment arrears. As a matter of course, each person’s credit history should be positive. After all, only in this case is it possible to take a subsequent new loan without the risk of rejection from the bank.
What does a credit history include?
As a rule, a credit (debt) history is made up of 3 main parts:
- Title part. It indicates all personal data of the borrower. In the event that the person who is requesting a bank loan is an individual, then this section will indicate: name, marital status, identification code, number and series of the passport, place of registration (place of permanent residence), official place of work and information about education. In the case of a borrower who acts as a legal entity, this section will also be supplemented with such information: name of the legal entity in full and abbreviated form, its TIN, USRN, license and other data.
- Main part. This section displays the financial capabilities of the borrower, information on payment of payments on previous loans, terms of execution and data on the time period of the loan agreement.
- Additional part. All data about users of banking institutions and creditors are indicated here. But in no case in this section can not be indicated information about the property of the borrower, his state of health and items of acquisition at the expense of credit amounts.
Where to find out your credit history?
All data of credit histories are formed in a single institution called the "Bureau of credit histories" (BKI).
Within the Russian Federation, there are only 3 large bureaus. Although the number of borrowers exceeds 95.5 million people. But for many citizens, the question of the whereabouts of this organization remains unclear.
In addition, you need to know in which institution your credit history is stored. In order to understand which organization to contact, where you can find out a credit history, you should pay attention to the existing body of state management - the Central (General) Catalog of Credit Histories (CCCH). This structure is directly a component of the Bank of Russia. Her responsibilities can be considered: monitoring and settlement of credit histories throughout the Russian Federation. It is at TsKKI that they will tell you where to find out your credit history, and which bureau should contact for further information.
True, if at the time of signing the loan agreement with the bank you did not confirm your consent to send data on your loan obligations to the BCI, then access to information will be closed. As a rule, the loan agreement indicates the decision of the borrower on whether the credit history for this loan will be displayed in the BCI.
Can I find out a credit history via the Internet?
Nowadays, almost nothing is impossible. And you can even view your credit history without leaving your home. But there are many problems that do not allow you to use this service. Initially, the borrower is required to go online and visit the official resource of the bank. There you can study your personal information and find out which BCI is worth contacting.
But such actions can be performed only if there is an individual code of the borrower.And so many want to know how to find out a credit history code. It is worth noting that it is always indicated in the loan agreement section. And if he was not there, you will have to visit the BKI in person and arrange it. So it’s better not to waste time and immediately follow the Bureau.
The principle of operation of the code of the subject of lending
The code of the subject of the history of credit operations is a kind of password that opens access to the personal information of the borrower, which is stored in CCCH. It consists of a combination of letters and numbers and works on the principle of a PIN code for bank cards. Outsiders, not knowing this access code, will not be able to find out your personal data and the history of credit relationships with banking institutions.
The password for access to classified information can be changed or deleted on the Bank of Russia website for free. But in the event that the borrower forgot or lost his code, then creating a new one will require both time and money. Since it is not possible to recover this cipher for client security reasons. But how do you know your credit history in such a situation? Perhaps you should immediately contact the bank for help.
The procedure for obtaining generalized data on the contractual relationship between the borrower and the lender
I would like to note that all information about your mutual settlements with the banking structure of BKI should be issued within 15 minutes. So this process can be called relatively fast. If you make a request for information about your credit operations using the services of the post office, then you should knowingly issue a letter as registered and with a notification. When the CCI considers your application, then your received document should contain the following sections:
- loan repayments;
- total loan amounts;
- facts of delays in the payment of loan amounts.
Request for access to credit history
Your request for full access to your credit history should be attached to the document. The official response form of the BCI must be drawn up according to established standards: a document in writing must be certified by the official seal of the Bureau and the personal signature of the management or its authorized person.
Sometimes a credit history may not correspond to full reality, since it is not always the person (borrower) who agrees to provide his data to the BKI. It’s hard to say whether it’s good or bad. After all, if there were delays in loan payments, this could adversely affect future loan agreements in the future. The bank, on this side, also sees some benefit for itself from the fact that overdue obligations will not affect its reputation.
Notary assistance in obtaining documentation
Sometimes it happens that the borrower does not have the opportunity to personally visit the BCI. In this case, you have to seek help from special legal structures to further resolve the issue. Often, it is a notary public who assumes responsibility and draws up a telephone message of the appropriate sample, certified by a notarial seal and signature. This document should serve as the basis for the BCI in the formation of a credit report at the request of the borrower.
Unfortunately, not everyone is aware of the fact that a request for access to the history of their credit operations can be issued only 1 time per year. And, by the way, this fact is mentioned in the legislative documents of the Russian Federation.
In order to understand how to find out your credit history, you just need to go through a simple mechanism for obtaining a credit report. But it’s important to remember that dedicating strangers to your data on loan agreements is simply dangerous. Otherwise, you expose yourself to a certain financial risk.
Sometimes a person is refused a loan, arguing their actions with a faulty credit history of the borrower.Therefore, if you plan to sign a mortgage agreement, it is better to worry about the "transparency" of your past in advance. Ask your bank branch how to find out your credit history.
Credit Error Detection
Sometimes it happens that the debtor does not agree with the data indicated in the credit history. This should be disputed with the Credit Bureau. There, within a month, they will consider your application. And if the presence of an error is really proven, then the data will be amended and the information on the Bank of Russia website regarding your identity will be updated. But it’s important to remember the following: the credit bureau does not check more than once. So, if you are still confident that you are right, go to court. After all, you already know how to find out your credit history.
Storage of information by commercial banks
Perhaps it’s no secret that commercial banks receive solid and constant income from lending activities.
But it is worth considering the factor that banks seriously risk their finances. After all, where is the guarantee that the borrower will not have a force majeure, and he will pay the entire loan amount in the allotted time?
To reduce their risk, banks vainly study information about each person, a potential borrower. And this does not only apply to his passport data and place of work.
Credit inspectors conduct interviews with the borrower, fill out questionnaires and request information from the BKI on its credit relations with banking institutions. It will not be difficult to find out a credit history at the bank, just a few minutes of waiting. The data that the bank will receive from this organization will be identical to what the potential client himself can receive.
Problems encountered in drawing up a loan agreement
Often there are situations when financial institutions refuse to take a loan to a borrower who has a solid income, a prestigious job and a good guarantee. This may be justified by the fact that he has a bad credit history. Therefore, as an option, it is worth considering how to find out a credit history yourself, check your data and make sure that it is true.
After all, every person is prone to make mistakes sometimes. A mistake in filling out a credit history can significantly change the life of the borrower. That's just how to find out a credit history a person who is really able to pay all his debt obligations? Therefore, every time you sign another loan agreement, try to compare all the information with the available documents.
Don't rush into a deal that seems dubious. It is better to seek the help of already trusted banking institutions. In an extreme case, you can go around several banks at once, compare the proposed conditions for obtaining a loan, and only after that - give preference to the most reliable, in your opinion. Commercial banks with an unverified reputation can ruin the history of loans forever. So you need to be careful with each clause of the contract so as not to become a victim of scammers.
