quite refuse to owners of bad credit history the credit or to appoint higher percent. Therefore most often the question how to improve credit history if it is spoiled, sets those who decided to take a large loan or a mortgage.
Whether it is possible to improve credit history?
Detailed information about the person as about the borrower – obligatory or undisciplined – is called credit history. It contains data on where and when the person took loans how in time and completely returned them. The base of credit stories was created for the purpose of elimination of the potential borrowers breaking the contract.
Credit stories are available to credit institutions and banks, and surely consider them, making the decision on approval of the credit or refusal. It is possible to improve the spoiled credit history and as to make it – bank workers know.
As well as where it is possible to improve credit history?
If refused to the person registration of the credit, not only negative credit history can be the cause, but it is desirable to check this information nevertheless. These documents are stored in the Central catalog of credit stories and various bureau of credit histories (BCH). The last organizations are commercial and their services paid.
There is a myth that credit history can be corrected in any BKI, it is enough to pay a certain sum only. However it not so – these organizations value the reputation, and will not risk it.
One of the most available ways to improve credit history - to take a microloan. Loans in microfinance institutions are the most unprofitable of all since these creditors are insured against non-payments by extremely high credit rates. But also make out the credit practically all.
It is not favorable to take a large microloan not only, but also it is dangerous – even the small debt can quickly grow to the huge sizes. Best of all – to take a small short-term loan for purchase of household appliances, electronics or other needs. And in time and completely to pay this credit. Credit history in that case will be replenished with a positive review from microfinance institution.
But one positive review for improvement of credit history, most likely, will not be enough. Within 2-3 years the former unfair borrower needs to make out periodically the small credits – in microfinance institutions or small banks. Then if necessary to take a large loan the bank will see positive credit history of the disciplined borrower.
Small council from bank workers – the probability of successful receiving the credit increases if in bank where the person plans to be credited, it stores a small contribution.
The popular wisdom not without reason says – protect a dress while it is new. It is desirable to keep credit history positive even if a financial situation very difficult. If the taken credit could not be paid, it is impossible to pull until the bank files a lawsuit against the debtor. It is necessary to address the manager for recalculation of monthly payments for the account of change of an interest rate or term of the credit. The bank usually meets halfway since it is favorable to it to receive the money back.
Special case – when credit history was spoiled not because of actions of the borrower. Seldom, but mistakes nevertheless occur in the reports sent by banks in BKI. And here cases when the credit is obtained by swindlers on nothing not suspecting the person, unfortunately, meet often. To correct credit history in such cases, it is necessary to write the application, to put to it extracts, references and other documents confirming correctness of the borrower and to send by mail or to carry in BKI personally. As a last resort, that justice triumphed, the person has the right to appeal to court.