Credit history – what is it?
Often people find themselves interested in such specific issues as the concept of credit history and the rules for its formation, and also try to figure out a solution to the question of how you can know it about yourself.
Formation takes place both in relation to legal entities and individuals, while most often there is a search for information on the second option. And first you need to figure out what the term implies. A credit history is a certain data set that allows you to evaluate the quality of performance of obligations undertaken by a borrower. This is considered in relation to a loan or loan agreement. The procedure for working with credit history is described in a specialized law that has been operating in the country since December 30, 2004.
As the law says, a credit history check may relate to the three main components of this complex of information about a person. First of all, it is necessary to mention the title part, where brief information will be posted on the person who issued the loan, which makes it possible to identify. It is also here that you can find data regarding in which BCI you can access information about his credit history. The title is retained in the CCCH, which structurally can be described as a division of the Central Bank of the Russian Federation. The second and main part contains information on the obligations of the person and is stored in the BKI created by legal entities. Such organizations are commercial and operate on a paid basis. The main source of income for them is the provision of information to banks. Finally, an additional part contains information about the lender and all those who requested the story.
When a bank considers an application from an individual, the potential borrower is evaluated. If there is a negative story, the chances of getting funds are minimal.