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Negotiation of better loan agreement terms

Positive Economic Information is collected by the same entities that create registers of debtors. As a result, timely paying consumers can count on more favorable conditions for loan offers. BIK, the Credit Information Bureau, receives all information about the repayment status of our loans. Regardless of whether we have paid it in time or not, this information is entered automatically. The situation is different with Informatik, KRD or ERIF, in which negative information is entered by creditors without our consent, while consent is required to give a positive entry, we often have to initiate this entry ourselves.

Positive Economic Information is an initiative of Informatik. Infopositive is a project implemented by ERIF BIG SA, while FusePAy is a KRD timely payment system. In this way, all institutions want to promote the timely payment of debts to the public. 

Informatik – Positive Economic Information

Big Infomonitor - Positive Economic Information

The entry in this database contains information about the timely repayment by the consumer. The entry contains our personal data, information about who is our creditor, exact data on the amount of the liability, as well as the payment date and due date. To collect positive information in BIG, you must submit an application to the creditor who is a Informatik customer. From this moment, the creditor has 14 days to enter positive information. There may also be a situation where the creditor himself comes up with the initiative to enter us into the database. Positive information as opposed to bad information resulting from late payment requires our consent. So the creditor must first ask us for permission to enter.

Infopositive ERIF BIG SA

Infopositive ERIF BIG SA

One of the main benefits of having positive entries in the database is building credibility for future creditors. Entries to the ERIF database can be made by financial institutions such as banks, loan companies, media providers and other entrepreneurs who have issued us an invoice with deferred payment. If we repay the liability on time or late does not exceed 60 days, then we can apply for a positive opinion. Ultimately, we decide ourselves whether we want this entry to appear, therefore, in the case of the ERIF database, we must agree to it. The initiator of the entry can be us or the service provider. However, the entrepreneur who issues positive information must have a current contract with the economic information office.

FusePAy KRD

FairPay KRD

The service provider who uses this program sends us this information by electronic means with a request for acceptance. In turn, after accepting the conditions, we create our own account, which automatically records timely receipts for receivables. If so far no service provider has offered us such a form of recording timely payments, we can set up a free account ourselves and then submit applications to creditors with a request to add positive information about our payments.

[quote_center] Providing information on the timely fulfillment of obligations is based on art. 18 of the Act of April 9, 2010 on access to business information and exchange of business data. Building a positive history can bring us many benefits in the future, such as negotiating better contract terms. A good argument on our side will be documenting that signing a contract with us is not burdened with the standard risk of not making timely payments.





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