All lending institutions are competing in new advertising slogans. Television, internet, radio and billboards flood us with information that is supposed to attract customers. However, loans without BIK are invariably very popular. Why?

What is BIK at all?

What is BIK at all?

BIK is a Credit Information Bureau. Everyone who has or has recently had any liability on their account will certainly be in this register. Until recently, only borrowers, i.e. people who took a loan from a bank, were recorded there. Currently, BIK has not only people who decided to take a loan, but also those who have a non-bank loan and even payday loans. Therefore, the institution crediting us with funds sees whether we currently have any obligations or whether we had such obligations in a period of five years back. We will also learn from BIK whether we have paid our liabilities on time. We will also check there whether we are currently not in arrears with payments and whether we have overdue obligations and installments to pay.

Credit and BIK

credit score

There is no loan without verification in BIK. This is because the banking law imposes an obligation on banks and credit unions to verify every potential borrower at BIK. What’s more, the negative history in BIK clearly undermines our chances of a bank loan. As a result, many people who currently work and earn well, but once had a leg, will not receive credit.

A loan without BIK – is it possible?

A loan without BIK - is it possible?

In turn, we will go for the loan, not to the bank, but to the non-bank institution. Its operation is no longer governed by the provisions of the banking law, but by the Civil Code. As a result, non-bank institutions are not required to verify their clients in BIK. Thus, the answer to the question whether a loan without BIK or a loan without creditworthiness is possible, in principle, will be affirmative.

However, in practice, this does not mean that all loan companies are lightly departing from the possibility of verifying their clients in BIK. In most non-bank institutions, our credit history in BIK will be checked. However, what should be emphasized again is the fact that the bank not only has to verify the borrower in BIK but also in the event of a negative assessment refuse to grant a loan. In the case of a non-bank institution, verification in BIK is not mandatory, and therefore the loan company does not have to make its decision dependent on what is in this register.