What is Loan and Credit cleaning?
Do you have any questions? Write to us or call! To learn more about updating data in the registers of Economic Information Bureaus, see our latest book “Guide to BIK and Loan and Credits”.
Time to update the data
Data processed by Loan and Credit can be updated – also in the case of negative entries, but only if the conditions laid down by law are met. What is the easiest way to remove negative entries? Of course, total or partial repayment of the debt. In this situation, the creditor within 14 days – from the day on which he received information about the change in the debt balance – should:
- Submit a request to update data in the event of partial repayment,
- remove them when the commitment has been repaid in full.
Why does this obligation belong to the creditor? Because he manages the data regarding the liability and places it in the Economic Information Bureau itself if the borrower fails to make his payments on time. Non-performance of this – mandatory – act is punishable by criminal liability, i.e. a fine of PLN 30,000.
The second way is …
The passage of time! In the absence of repayment, the data may be processed for a period of three years from the last update, but not more than 10 years from the date on which the creditor transferred it to Loan and Credit. “[…] the fact that the claim may be time-barred does not affect the possibility of entering data in the Loan and Credit and the existence of information already entered in the Loan and Credit. Even if the obligation is time-barred, the creditor has the right to enter economic information in the Loan and Credit (…) “
In the event of unauthorized processing of our data, e.g. due to incorrect data or the expiry of a given obligation, we have the right to request the removal of information from Loan and Credit. The “Loan and Credit cleaning” service consists of:
- Analysis of the Loan and Credit report,
- assessing the possibility of updating data,
- submitting relevant applications for updating the data contained in the Economic Information Bureau register.
It should be remembered that the services
Of “cleaning” Loan and Credit and BIK registers are legal services, i.e. they are performed by lawyers. Before using them, it is worth paying attention to how the company undertakes activities in the field of the service provided.
To be able to take advantage of updating data in those registers, remember to meet certain conditions.