As you know, credit spoils the relationship, however, this saying often applies to friends and acquaintances who have you decided to take the remaining amount. What can spoil relations with the Bank? After all, what they are for, to lend money at different interest rates. One of the negative aspects when dealing with a Bank can be a negative credit history. Since she is poor, the registration of the consumer credit can be a problem.
What's the story, where she taught
Credit history (CI) is a kind of dossier on everyone who at least once received the loan. This document is stored in a special institution, called the BCI — Bureau of credit histories. And every Bank to which services have you ever accessed, transmits the data about you. Therefore, the KJV has accurate information about where, when and what amount you think carefully whether comply with the terms of the loan agreement. Before giving you another loan, employees in almost any financial institution will make a request to the Bureau and assess your ability in a timely manner and in sufficient volume to meet their obligations. One or two late payment, and you are in the "black list" of the Bank, and when this information gets to the CRA, your reputation will suffer. How? Depends on you.
Credit history — the bad
You have a bad credit history? What does it mean? The fact that you have at least a couple of times you have violated the terms of the credit agreement. Moreover, a negative factor is not only a direct evasion of payments, but a single delay even for two days. Of course, if such an incident happened to you only once, late payment is not too much affect your reputation. In order to rehabilitate in the eyes of the Bank, is sufficient in the future to more carefully monitor the timing of payments. However, if the delay happen on a regular basis, and you, instead of to adjust the timetable, argue and squabble with Bank employees, the credibility of you as a borrower drastically reduced. In the future with a loan, most likely you will have issues. If you did refuse to repay the loan, and even more hiding, your credit history will be damaged irrevocably. Most likely, you will not give credit no Bank.
However, sometimes your reputation can be damaged through the fault of employees of the Bank. The fact that one of the factors influencing the KEY is to identify false information about the customer which a Bank employee makes a special card. Here and can play a nefarious role of the ubiquitous "human factor." So you need to carefully check the questionnaire, data from which are transferred to the electronic document. Hardly anyone likes to admit their mistakes. And banks also in this case are no exception. So if you think that the loan with bad history you had is the fault of the Bank — it is possible to prove it.
Can you fix a bad reputation
Simply rewrite the credit history anew and to correct errors therein by mechanical means impossible. Any Bank that has made a request to the CRA, you will see your "sins" in all its glory. However, you can try to restore its reputation at least partially. By law, 1 time per year, anyone can see your credit history for free. For this you need to make a written request to the credit Bureau and point out their right to obtain KI. Also free you can do this in the case when a Bank rejected the loan, citing a negative credit history. Get your hands on and carefully studied the document, you may dispute it. You need to provide to the Bureau a written request with little comment (100 words) for each disputed issue, as well as copies of all supporting documents that you have. For example, if you are overdue in connection with the disease, you need to provide a copy of the certificate confirming this fact. Within 5 working days after the application of BCI shall pay to the Bank for clarification. The fact of violation of the payment schedule of the KEY is not removed, but a comment with your explanation make, perhaps it will play in your favor in the future.
The probability of obtaining a loan
Thinking about how to get a loan with bad credit history, you should be ready that even if you find a financial institution ready to work with you, then most likely, there will be additional terms:
- will increase the amount of the contribution
- reduced to the limit of the loan period;
- may require an additional sponsor or bail.
As you already understood, on such conditions you are unlikely to be able to take a mortgage or get a loan for a car, but you can get smaller amounts.
Attempt No. 1. Align KI
Of course, to continue not to think about how to get a loan with bad credit history, best of all this history not to spoil. However, if it's already happened, you can try it a little to align. For example, you can get in any hardware store a little credit (most likely, a small amount of you will approve) and the time to extinguish it. You can also open a security Deposit and monthly to make a minimum payment.
There are also non-banking organizations that provide micro-credits for the term from 1 day to several months. If you need to contact them. Such firms often do not look credit history borrowers, but some of them convey information to the CRA. If you find such an organization, then taking a loan for a few days and promptly returning it, you can significantly correct your credit history.
Attempt number 2. Credit card
Speaking about how to get a loan with a bad credit history in Russia, one can not forget about credit cards.
These lovely heart of every Russian "trifles" banks usually distribute right and left, in spite of any flaws in credit history. This happens because the interest in this case is generally higher than consumer credit, and the amount is much less. So if you want to improve your KEY find a Bank that will give you a credit card for at least the minimum amount. And use it regularly. Just carefully read the contract and follow the terms of making money at stake.
Attempt No. 3. Security
The loan with bad history in history will be more likely if you provide the Bank any collateral. This will be the best way to prove to the Bank that he is not at risk, and if anything will get you collateral. A loan can serve as anything — a car, motorcycle, securities, real estate, expensive, home, video or audio equipment, production capacity, etc. for Example, if you take out a loan to support farmers, the key can even serve as future harvest.
Attempt number 4. Attract a guarantor
To get a loan with very bad history stored in BCI, except for the pledge, most likely, have to provide one or more guarantors. One of the main conditions will be that the surety should have an impeccable reputation. The basic requirements for a guarantor can be:
- age from 18 to 60 years
- permanent employment;
- confirmed high solvency;
- availability of liquid assets, movable and immovable property.
However, before you engage such a person, and most often there are relatives, soberly assess their financial capabilities, discuss the likelihood that you will not be able to repay the loan. Otherwise, you risk not only aggravate its relations with the Bank, but "to beat pots" with the surety.
Attempt number 5. Restructuring
Thinking about how to get a loan with bad credit history, remember, not whether you have unpaid loans. Left? In this case, they should be closed as soon as possible. To do this in the first place should pay to the Bank and try to negotiate a debt restructuring. This means that you will have to take out another loan to repay the old, but on more reasonable terms. Try to follow very closely the implementation of the terms of the new agreement, as there is still time to rehabilitate in the eyes of the Bank you are unlikely to succeed.
By the way, if debt restructuring was denied, do not despair. Try to find another Bank that can provide refinancing services. This means that the new Bank will buy out your debt and you will pay the money to another lender and other conditions. Of course, most often the interest rate on a new Treaty will be slightly higher, but the repayment period, and monthly payment will decrease.
And a few more options
How to get a loan with bad credit history, if all the previous methods did not help you? Another option could be engaging a credit broker. People who for a fee will provide you with a Bank, which will be ready to close eyes to all your "merit". As a rule, credit brokers have personal acquaintance with the employees of various banks and can influence decision-making on granting credit funds to a specific person. However, there is a significant risk of running into scams.
Another way would be to appeal to the private investor, but there also should be very careful, carefully examine the contract (especially what is written in small font), and best of all show it to a lawyer with experience in such matters. In any case, the loan agreement with a private entity must be issued by a notary.
As you can see, the processing of a loan with bad credit history you may need to make some effort. However, that is not repeated in the future, you should soberly assess their capabilities, carefully monitor compliance with the terms of the contract and does not take on financial obligations that you can not afford. Then your story will always be in order.