How to find out your credit history, how much it costs and whether it can be improved

Many banks simplify the procedure for issuing a loan, but there is a stage that cannot be avoided - this is a credit history check. It can be spoiled even by the most responsible borrowers. We figure out where errors in a credit history can come from and how to fix them.


What is a credit history

A credit history helps the bank understand how the borrower will repay the debt and whether he will be able to repay the money on time. Information is accumulated by credit history bureaus, data on borrowers is transferred to the BKI by all banks, microfinance organizations, credit cooperatives, investment platform operators, and leasing companies.

Since the beginning of 2022, the CBI has been calculating an individual rating of a citizen based on unified approaches. The standard credit rating scale has 999 points, but banks and MFIs may not take this rating into account - they have their own systems for assessing the reliability of the borrower. However, those with a high rating are more likely to get a loan .

Previously, a credit history was kept for 10 years, from 2022 - 7 years, and the countdown starts from the moment the obligation was last changed. The new retention period will apply only to new data - everything that banks transferred to the CBI until 2022 is stored according to the old rules.

How to find out your credit history

A person has the right to know how reliable he is from the point of view of banks. To get a report on your credit history, you first need to find out in which credit bureau it is stored - this data is provided by the Central Catalog of Credit Histories. You can send a request on the "State Services" or on the official website of the Bank of Russia , as well as through banks, MFIs, credit consumer cooperatives, a notary, a post office that provides telegraph services.

Knowing in which credit institutions the history is stored, you can request it directly from them or through a bank, MFO , credit cooperatives. Twice a year it is free (but on paper only once), then you have to pay - an average of 250 to 500 rubles.

What can ruin your credit history

Delays in loan repayments can ruin your credit history. Even unpaid utility bills can be a reason for refusing a loan.

“In the main part of the story there is a description of already closed and active loans and loans, information about the maturity, outstanding balance, the presence or absence of overdue payments,” says Alexandra Lvova, 

Chief Economist of the Bank of Russia Main Directorate for the Central Federal District. - There may also be information about an unfulfilled court decision or about the collection of debt by bailiffs for unpaid services of mobile operators, information about alimony. 

Typically, banks refuse to issue loans to persistent non-payers for housing and communal services. Of course, the bankruptcy procedure, which, in fact, consists in writing off debts, will negatively affect the credit history.

Credit holidays

The method is suitable if the borrower is temporarily unable to pay. A loan holiday is a grace period when interest continues to accrue on the amount of debt, but you can not make monthly payments (or make them less). 

The measure was introduced at the state level during the pandemic and resumed from March 2022. You must apply for a loan holiday by September 30, 2022. However, the Central Bank plans to make this option permanent so that it can be used both in case of general and personal financial difficulties. The corresponding bill is planned to be submitted to the State Duma by the autumn session.

According to the current rules, credit holidays can be obtained for a period of 1 to 6 months . They are not available for everyone. In 2022, a borrower who asks for a deferment is subject to the following requirements:

  • Income decreased by more than 30%;
  • The total amount of the initially issued loan is less than the established limit (for car loans - 700 thousand rubles, for consumer loans - 300 thousand rubles, for credit cards - 100 thousand rubles, for mortgages - from 3 to 6 million rubles);
  • During the same period, there are no mortgage holidays;
  • The contract was executed before March 1, 2022;
  • Under one contract - one credit holiday.
  • Can I fix my credit history?

    If you are offered to fix your credit history for a fee, these are scammers. The borrower himself will not be punished for contacting a person who provides such a service, but the contractor may be convicted. True, only in theory - in practice this rarely happens.

    “Often, those information or other similar services that may be specified in such an agreement cannot be identified as fraud,” explains Anatoly Gaivoronsky, chairman of the Public Organization of the GDP.

    In fact, there is only one way to correct a credit history - to pay off a loan on which there were delays, and then take and pay off loans again. Credit cards will also help - if you consistently do not go beyond the interest-free period, banks will take this into account.

    “An effective way to improve credit history is to increase income,” says Alexei Slobodchikov, head of the consulting company Auslandsfinancemt. - The higher the salary, the more tax deductions are made, the better the credit history.

  •  It is necessary to take and repay loans, and then they will offer new loans on more favorable terms. But there is an important point: if you take loans and constantly close them ahead of schedule, you can potentially become uninteresting to the bank.”

  • It happens that the credit history is damaged by mistake - for example, the bank provided incorrect data. In this case, you can write an application to the credit bureau and list everything that needs to be changed. BKI specialists will check the information, and if it is unreliable, they will correct it.

    Why is a loan denied if there were no delays

    Sometimes a person does not even know that he has to repay a loan to a bank.

    “Scammers receive loans or credits in a false name using forged documents or otherwise, and a line in the credit history appears in relation to an unsuspecting person,” says Vladimir Kuznetsov, vice president of the Association of Lawyers for Registration, Liquidation, Bankruptcy and Legal Representation. “Then, if a person decides to really apply to a bank, he will most likely get a refusal (which banks are not required to motivate), and the reason for this will be a bad credit history.”

    The Central Bank proposed to introduce a self-prohibition mechanism for issuing loans: what is it and how will it woHow to fix a credit history if scammers ruined it
  • You can understand how your credit history has deteriorated after a request to the BKI. Then you need to contact the organization where the loan was issued in your name, and write a statement stating that you did not conclude an agreement and did not receive money from the lender.

    “Emphasize that the signature in the contract was forged or the electronic identification was not passed by you,” advises Alexandra Lvova, Chief Economist of the State Bank of Russia for the Central Federal District. — If the passport has been stolen, it is important to attach a copy of the certificate from the police. In the same statement, demand an internal investigation and stop demanding a debt from you under an agreement that you did not conclude.

    The lender's experts will examine the recordings from video cameras in the office, scans of documents to the contract, official correspondence, telephone records and other evidence. In the case of online loans, MFIs will verify the borrower's details, photos, and investigate the actions of intermediaries. If the creditor is convinced that the money was taken by scammers, the debt will be written off from you. If he does not find such evidence, you can check whether the lender carefully investigated everything - to do this, contact the Internet reception of the Bank of Russia. If all else fails, you will have to file a lawsuit.

    “It happens, unfortunately, that the loan cannot be written off. For example, if you reported the loss of your passport after the loan was issued to you, and there is no other obvious evidence that it was not you who concluded the contract, says Alexandra Lvova. - Then you will have to go to court and refer to the fact that the contract was concluded by a fraudster and was not signed by you. It will not be difficult to check the signature on a paper contract: the court will appoint a handwriting examination. It is more difficult to detect online fraud, it will take more time. But this is also possible. After a court decision in your favor, the creditor will stop demanding payment of the debt.

    If the scammers have issued several loans, you will have to go through this entire procedure for each of them. And then make sure that information about the debt written off by the creditor or the court is removed from the credit history.

How to write off loan debHow to maintain a good credit history Even the most responsible borrower may find himself in a situation where there is nothing to pay the bank - for example, in the event of a job loss or a long illness. But even then you can save your credit history. There are several ways to do this: Restructuring Suitable for those who can pay, but want to reduce the monthly payment, for example, due to a decrease in salary or the appearance of additional expenses. The bank is revising the terms of the loan - for example, extending the term. Due to this, the amount of the monthly payment is reduced. True, in this case, the total amount of interest payments increases. As a result, the total amount of payments on the restructured loan will be greater than it could have been without restructuring.

Post a Comment

Previous Post Next Post