In the credit history information was collected on the basis of which we can judge that takes people assumed loan obligations. It is formed from the information that banks serve the credit Bureau – the Credit Bureau.

What is Credit Bureau

BKI – commercial organizations, which have permission to familiarity with the credit stories of citizens and the processing described there is data. All of BKI are included in the special state register. There is also a branch of the Bank of Russia – Central directory, which is used to get information about where it stores the history of a specific person.

Consent to the transfer of such data to credit institutions provides the client of the contract. The credit agreement such a clause is included in mandatory. If the borrower does not want any confusion in the future, it should not hinder the formation of their own credit history.

The KEY materials recorded personal data of the person, information about the organization of the creditor, that the borrower enjoyed. Credit history reflect all the nuances of the process of the loan. Data entered in the report which shall be made at the Credit Bureau. Information comes into the database in the form in which it was delivered – they are not edited and are not validated.

How long can stored information in credit Bureau

The Credit Bureau stores data of a particular borrower 15 years from the time when was made the last update. When this period expires, the information will be void. Credit history cannot be deleted, but can be improved.

If the borrower "clean" history, the Bank will be convinced of the reliability of the prospective client and that the fulfillment of credit obligations it will be taken seriously. Violation of the terms of use of loan funds it will be impossible to hide from the attention of creditors, if an unscrupulous borrower wants more time to go somewhere to obtain a loan. In case of serious problems in credit history the Bank may decide to deny the applicant a loan or grant is not the good credit conditions.

If for any reason your credit history is poor, for approval in the future, your credit application may not count. But you can try to improve the information about you – it can take a Bank loan for a very small amount and pay it in time and with strict observance of all conditions. If you have an account or card in any Bank it is better to apply it there. Perform the obligations on the loan, repeat the same steps – try to take another large amount. Flawless execution of all assigned terms by the Bank will help to change the attitude to you as a borrower in a better way.