In only three cases
Instead of looking for services with a dubious chance of success, let’s focus on what real opportunities exist for entrepreneurs to remove themselves from the BIK. The Credit Information Bureau’s regulations provide for only three such situations – in each of which an application for deletion from the BIK is necessary.
Cancellation of consent to data processing
Any businessman who has repaid the loan on time and without complications can revoke his consent to the processing of repaid loan data via an application (this consent may or may not be given at the time of signing the loan agreement).
Important!
Information about a loan obligation that has not been paid on time can be stored and processed by the BIK even without the borrower’s consent.
This means that in the course of repaying a loan, the BIK can process data on the obligation, and share it with banks and other financial institutions at their request regardless of whether the borrower has given his or her consent.
The rules for providing information that constitutes bank secrecy are governed by the Banking Law, specifically Art. 105 and Art. 105a It contains a complete list of institutions that can obtain such data, as well as situations in which it is possible to obtain it.
In fact, this solution does not have any positive consequences for the entrepreneur ‘ scredit score – instead, information about a properly repaid liability will disappear from the BIK. So unless there is a specific purpose in doing so, it is not worth removing this kind of data from the BIK.
Correction of false information
The second case, which is provided for in the Credit Information Bureau’s regulations, is much more useful – it is about correcting false information that may have entered the bureau’s database accidentally – as a result of human error or an IT system failure.
In such a case, it will be necessary to draw up a request for correction of data in the BIK, because – although by law the bank is responsible for the accuracy of entries in the BIK – the prospective borrower is usually more concerned with clarifying the situation.
For more useful information on applications, see the rest of this article.
Important!
If a company or individual is planning to take out a large loan in the near future, it is a good idea to generate a BIK report even before seeking financing. This way, if there is information in the BIK that needs to be corrected, the prospective borrower will have time to react and clarify the situation at the source.
Removal of information about problematic credit
The third envisioned situation is actually the only one that meets the premise of the question posed in the title of the article. An inconvenient history that includes entries of late debt repayments can be removed from the BIK, but under two key conditions:
- The loan obligation must be closed (paid in full).
- It must also be at least five years after the end of repayment.
Important!
Removing information about a problematic loan 5 years after the end of repayment is in fact the only way how to clear the history in the BIK – the one that can carry negative consequences for the company. This sort of “statute of limitations” should happen automatically, but to be sure, both businesses and private customers can request the removal of inconvenient entries in the BIK.
How to draft a request for deletion from the BIK?
Before an entrepreneur sets about preparing the document, it is important to remember that a request to remove time-barred data from the BIK must be filed with the lender (for example, the bank where the company took out the loan), and not, as you might think, with the BIK.
As in any similar application, the entrepreneur should remember to include all the necessary data in its content, such as:
- date and place of preparation of the application;
- company name – applicant;
- business address;
- TAX ID;
- email address or contact number;
- data of the addressee of the application (company name, address).
The request may be titled “Request for deletion of data from the BIK” or in a similar manner indicating clearly its purpose. The next step is to write a few words of explanation and include details of the loan agreement: its number, and the date it was concluded.
To be sure, it is worth asking in the body of the application for written confirmation of the termination of the processing of data on the repaid liability in the BIK register – either by letter or electronically.
Application for correction of data in BIK – the most important information
In order to bring about the correction of erroneous data appearing in the BIK register, we must, as in the case discussed above, contact the bank or financial institution where we took out a loan, credit or other type of obligation. Contacting the Credit Information Bureau won’t help, because the BIK is only responsible for storing and processing the data entrusted to it, not for verifying it.
The application for correction of data in the BIK will contain similar information as the application for deletion from the BIK – with the difference that the applicant should title it accordingly. The content of the application should also indicate those data that, in the opinion of the entrepreneur, do not agree with the facts.
