It is known that every person deciding to take out a loan will be checked by a credit company. The verification is very thorough and conducted primarily by banks. In the case of institutions granting so-called “Payday loans” the procedure is a bit less complicated. However, we must reckon with the fact that we will be verified with the help of debtors’ databases. What are they and what does the whole procedure look like?
Debtor database – what is that?
There are several data sets in Poland in which employees of loan companies can check our credibility. This is where our data is verified. According to information from the Ministry of Development, there are five such institutions in the Republic of Poland. Their offices are located, among others, in Warsaw, Wrocław and Kraków. These registers serve as a platform for the exchange of information between banks and other sectors of the economy. They include not only private individuals, but also small companies and large enterprises.
ERIF database – one of the largest economic information offices
This institution is an integral part of the HOKIE Capital Group. It allows a variety of consumers to check who is on the list of debtors. Most often such developers are subject to developers or travel agencies. Why? This is where the largest money is usually located, and because they are very large amounts, everyone wants to be sure that they will not be lost. That is why vacationers and investors prefer to be extremely cautious when spending their money. Fortunately, the ERIF database allows them to do so without unnecessary formalities and in an extremely accessible way. Thus, the risk assessment process becomes a simple operation that can be managed by anyone, even those who do not know finances.
Below is a list of several companies that allow their clients to receive financial support despite an entry in some databases. If one of the offers is interesting for us, just click “Submit Application” and we will be transferred to the lender’s website.
ERIF database – there are information about various business entities
Often there may be such a situation that during the search of data we come across an unpleasant surprise. It may turn out that among the debtors there is a person with whom we took out a private loan. What then? You should take appropriate action that will allow us to end cooperation with this person. It may turn out that being dependent on her will cause us considerable trouble. The good news, however, is that you can get to the census even after a small insolvency. An example is not paying a fine or just a minor offense. Let us add that for some people appearing on the list becomes an impulse to pay off outstanding liabilities. A serious entrepreneur cannot afford to lose his clients’ trust.
Verification in the debtor’s database
Most of us think that these statements are primarily used by lenders. These people are actually right, because it really is. However, this form of assistance is also used by the clients of companies that lend money at interest. They can then check information about themselves. It is worth building such awareness of how lenders perceive us. Then we gain certainty as to what arrears we have to compensate. Most often, we don’t even realize that we have to pay any outstanding fees.
Meanwhile, monitoring ourselves, we will be sure that it is a good idea to take another loan or credit. In this way, we will build financial awareness and borrow reasonably. Thus, we will implement the habit of borrowing safely. It will also be much easier to check the institutions with which we want to enter into cooperation. This way you will avoid irresponsible decisions. Most often they weigh on the course of actions taken in the future.
Status in the ERIF database – when is it worth checking?
There are many situations in which it is worth checking if and how we have been marked in one of the largest sources of data on debtors. First of all, you gain awareness about who made the entry about us. We may be completely unaware of this, but it will be necessary to bear the consequences of arrears. It is also worth seeing whether the company we owed the debt to has deleted the post about us after it has been settled.
It often happens that these data are not updated on a regular basis. Hardly anyone is aware of this, but we will also use the help of economic information bureaus if someone wanted to use our ID document to take out a loan. This can happen, for example, after being robbed. Then it is much easier to assert your rights.
Who can check the status in the ERIF database?
Let’s start with what the consumer gains through access to BIG databases. In the case of ERIF, we receive round-the-clock access to the list of indebted persons, as well as data on reliable companies and institutions. If we are going to cooperate with a contractor, we will easily check it in the database. Thanks to this, we will be sure that this is the right choice. In this situation, you should register for free. It is worth noting that checking your profile in ERIF costs nothing if the report is downloaded no more than once every six months. However, as consumers, we cannot enter an entity on the list of debtors.
Other rules apply to corporate clients and companies. They can not only check information on contractors, but also use the tools offered by ERIF to obtain receivables. These are among others:
- preventive seal – it is used to inform a colleague about an event in ERIF or to issue a debt to the stock exchange for sale,
- request for payment – that is, information about the intention to enter the debtor into the database in order to urge settlement of the invoice,
- adding an entity to the debtors database – applies to both individual and corporate clients’ debts,
- notification about adding to the ERIF database.
The ERIF database is used, among others, by: financial institutions, city and commune offices, telecommunication and television service providers, associations and foundations, entrepreneurs from all industries, and consumers.
Who can check the KRD?
The KRD database, on the other hand, guarantees us as individual clients not only the opportunity to check their data in the database, information about companies, but also to enter the debtor in the database. In such a situation, all you have to do is register in the system and then fill out the short form in the “Adding” section. After sending the application by post, we will receive a contract in which we accept all conditions related to the provision of information on debt in the National Debt Register.
Then, we send one copy of the document back to the debtors’ database together with a photocopy of the document confirming our identity. The next stage will be informing the debtor about the intention to enter into the register. If the debt is not settled within two weeks, the KRD will provide information on the debt after re-approving the request for entry. However, we must remember that after paying the debt we are obliged to update the data in the system. We should do it as soon as possible, no later than 14 days from the date of repayment by the debtor.
How much does verification – KRD report?
How much do KRD services cost? The price for downloading the report about yourself at the office is PLN 7.50. If we decide to deliver the document by post, it will amount to PLN 18.50. The cost of the statement regarding inquiries about us is presented in the same way. We can also use both of these services in the package. In this situation, the fee for downloading information at the company’s headquarters is PLN 15, while in the form of a letter PLN 26.
Who can check BIG InfoMonitor?
The BIG InfoMonitor database enables both consumers and entrepreneurs to access company data. To check information on the contractor’s credibility, you do not need to have a signed contract with the economic information office. However, you will need to set up a BIG user account. If you have any, just make a payment of PLN 30, and after confirming it download the Entrepreneur Report. If we are interested in information about ourselves, we get access to the statement for free, subject to using the service no more than once every 6 months. Otherwise, we will be required to make a payment of PLN 10.50 once.
On the other hand, anyone can enter the debtors database provided they have a special agreement with BIG InfoMonitor or an enforcement title from the court. We will then need the following information: ID number and PESEL or NIP number of the debtor. It is worth remembering that in the case of consumers, the debt must be at least PLN 200, while entrepreneurs have a limit of PLN 500. The entry will be recognized if the payer is late with paying the invoice 30 days and the next 30 days have passed since the notification of the intention to enter. The entry fee is PLN 69, and for notification by registered mail PLN 6, ordinary PLN 4. Let’s not forget to update your data within 14 days of settling the debt. If we do not do this, we will be subject to a fine of PLN 30,000.
Verification of debtors’ bases – what do we gain from it?
- We are sure that our contractor is reliable and has no arrears in financial liabilities,
- We can check information about you regarding late repayments,
- Information on inquiries regarding our data,
- Access to data provided to financial institutions,
- Security against extortion of a loan or other financial product on our data,
- Ability to speed up the debt recovery process.
Summary status in ERIF verification database
By checking ourselves, we can download a report about us. Such verification may take the form of a standard, paper sheet or electronic statement. It is important, however, to fully activate your account. Then we will gain access to the most important data. In this article we have shown that it is worth using such tools as the debtors database. It is a source of many important information. They are useful in many different situations. Let’s remember not to fall into financial trouble.