Who are credit brokers?
These are intermediaries between banks and potential borrowers.
Credit brokers can:
At the same time, there is no concept of a "credit broker" in the legislation. No one regulates or controls their work. They cannot conclude contracts with clients on behalf of creditors without a special power of attorney. But banks and MFOs issue such powers of attorney only for issuing loans at points of sale — for example, in stores and car dealerships. Most often, credit brokers are just consultants.
Brokers CANNOT:
The broker promises that I will get a loan without any problems, since he has connections in different banks. Is it possible to believe him?
In large banks and MFOs, loan applications are first analyzed by a robot. A special program studies the borrower's data and assesses the risk — whether a person will be able to repay the loan on time or not. Based on the analysis result, the robot assigns interest on the loan or refuses the borrower. A credit broker does not and cannot have access to this program.
In some cases, when the program does not give an unambiguous result, the application goes to a specialist of the bank or MFI for consideration. He may request additional documents, for example, confirming your income. But even if the broker is really familiar with this person, it is unlikely that he will be able to influence his decision.
I do not know what documents need to be collected in order to get a loan for sure. Can the broker prepare the papers for me?
Yes, it can. But it is not difficult to collect these documents yourself. As a rule, on the website of each bank and MFI there is a list of papers that need to be attached to the loan application. In particular, it is written which documents will serve as proof of your real income.
For example, it is easy to order a certificate on the form 2-personal income tax at work or through the website of the Federal Tax Service. Many lenders are ready to consider statements from your bank and brokerage accounts, certificates of ownership of an apartment, car and other assets. You can submit contract agreements to a bank or an MFI if you work freelance. Or a lease agreement indicating the monthly fee if you rent an apartment.
Repayments on previous loans will also allow you to draw conclusions about your income. If you give the bank or MFI consent to check your credit history, they will look at how much you have spent on average on repayment of loans and borrowings in the last two years, and will assume that your income is at least twice that amount.
It is better to immediately contact a bank or an MFI and discuss how to confirm income in your case.
The credit broker offered to make documents that I don't have. Is it legal?
If we are talking about a fake income statement, employment record or certificate of ownership of an apartment or car, then, of course, no. Moreover, lenders, as a rule, double-check borrowers' data through different sources.
Banks and MFOs also evaluate the veracity of information about your income based on open sources. The lie will almost certainly come out.
In the best case, the bank or MFI will simply refuse to issue a loan. But a sadder option is also possible. The borrower and the credit broker may become participants in a criminal case. If the deception is interpreted as fraud, then its organizers will face a fine and even jail.
The broker promises that I will be able to get a loan even with a bad credit history
To begin with, you should study your credit history yourself. Maybe she's not so bad. Small and infrequent delays, for example, for two or three days every few months, are usually considered technical. Most often, they do not affect the decision of the bank or the MFI to lend you money.
If you systematically delay contributions for a month or more or do not pay at all, then it is unlikely that the bank or the MFI will agree to issue you a new loan. The credit broker will not be able to influence their decision in any way.
Promises — to get a loan no matter what — may not be empty words, but a signal of danger. Often unscrupulous credit brokers work in conjunction with black lenders who illegally issue loans. They do not find fault with the documents, willingly lend money at cosmic interest. And in case of late payments, they do not hesitate when choosing methods for knocking out debts.
I don't have time to go to banks and MFOs. Can I entrust this to a broker?
It is not always necessary to go somewhere. The bank can approve the loan remotely if you already have an account in it. Many MFOs issue online loans to new customers, including for large amounts and for a long time.
You can also entrust the sending of applications to a broker. But in any case, whether you send the documents yourself or entrust it to an intermediary, you should not contact several organizations at the same time. Paradoxically, the more applications you submit, the less likely it is that you will be able to get money on favorable terms.
Before issuing most types of loans and loans, banks and MFIs are required to calculate the borrower's debt burden indicator (PD). To find out how much you are already paying on other loans and loans, they must, with your consent, send requests to the Credit History Bureau (BCI).
BCI calculates the so-called credit rating of the borrower. It shows how risky it is to trust a person with money in debt. Banks and MFIs receive this assessment together with their credit history and take it into account when they decide to issue a loan. A borrower with a low rating will most likely either be refused altogether, or they will lend money at a high interest rate.
Each bureau chooses its own rating calculation methods, but most of them take into account the same factors. For example, when several organizations request information about the same person from the BCI within a short time, the bureau often regards such behavior as suspicious — and lowers the rating. Although not essential.
The refusals that the borrower received from banks and MFOs worsen the rating more. For example, because of a bad credit history or a high PD. Some BKI take into account even those cases when a person did not provide the lender with consent to request a credit history and because of this he was not given a loan or loan.
A bad rating is unlikely to prevent you from getting a new loan if you have a stable official income, a low debt burden (PD) and there were no serious delinquencies on previous loans. But, it is likely that the interest rate will be higher than in the case of a good credit rating. And when everything is not so smooth, a low rating can become an additional reason for refusal.
To save time and effort and increase your chances of a loan, it is better to first select banks or MFOs with the most suitable conditions. It is worth evaluating not only the possible interest on the loan, but also other factors: for example, whether it is possible to transfer payments from another bank's card without commission.
If there is no time to do research, you can entrust this work to a credit broker. A good specialist will take into account all your wishes and make a list of organizations that meet your criteria.
How to find a good credit broker?
To begin with, it is worth evaluating whether you really need his help. Recall that credit brokers:
And if the broker also offers to issue fake documents about income or property, this is a criminal and you definitely do not need to work with him.
Without much fear, you can contact brokers who offer POS loans in stores. Usually these are employees of the outlet itself — and she is no less interested than you in getting a loan approved for you and being able to purchase their goods. Most likely, you will not have to pay for their services, since they receive a salary or commission from the store itself or the lender.
But even in this case, it is worth weighing everything carefully. Perhaps the conditions for loans offered by brokers are not the most profitable and you could find more acceptable options on your own.
In other cases, you need to be even more careful when choosing an intermediary. Honest brokers will show you the limits of their competence: they will help you select several banks and MFOs that best meet your requirements. And they will advise you on what documents should be collected to increase your chances of a loan. If time is more expensive for you than money and you are willing to pay for such services, then a credit broker can be useful to you.
It is worth choosing from those specialists who take a fixed fee, and not a percentage of the future loan. This way you will immediately understand your expenses for broker services. At the same time, it should be clearly indicated that you are ready to pay for the consultation, and understand that the money for it will not be returned to you, even if these tips will not help you get a loan.
There are no objective criteria for choosing credit brokers. There is no state register of credit brokers or ratings that could be a guide for you. So, as when choosing a real estate agent, it is best to rely on the recommendations of friends and acquaintances.
These are intermediaries between banks and potential borrowers.
Credit brokers can:
- make a list of banks according to your criteria, for example, with low mortgage rates and a large network of ATMs where you can make payments without commission;
- help to collect a package of documents for a loan;
- send your application to several banks and microfinance organizations (MFOs);
At the same time, there is no concept of a "credit broker" in the legislation. No one regulates or controls their work. They cannot conclude contracts with clients on behalf of creditors without a special power of attorney. But banks and MFOs issue such powers of attorney only for issuing loans at points of sale — for example, in stores and car dealerships. Most often, credit brokers are just consultants.
Brokers CANNOT:
- guarantee that you will get a loan;
- promise a certain interest rate;
- make any changes to your credit history, for example, to improve it.
In large banks and MFOs, loan applications are first analyzed by a robot. A special program studies the borrower's data and assesses the risk — whether a person will be able to repay the loan on time or not. Based on the analysis result, the robot assigns interest on the loan or refuses the borrower. A credit broker does not and cannot have access to this program.
In some cases, when the program does not give an unambiguous result, the application goes to a specialist of the bank or MFI for consideration. He may request additional documents, for example, confirming your income. But even if the broker is really familiar with this person, it is unlikely that he will be able to influence his decision.
I do not know what documents need to be collected in order to get a loan for sure. Can the broker prepare the papers for me?
Yes, it can. But it is not difficult to collect these documents yourself. As a rule, on the website of each bank and MFI there is a list of papers that need to be attached to the loan application. In particular, it is written which documents will serve as proof of your real income.
For example, it is easy to order a certificate on the form 2-personal income tax at work or through the website of the Federal Tax Service. Many lenders are ready to consider statements from your bank and brokerage accounts, certificates of ownership of an apartment, car and other assets. You can submit contract agreements to a bank or an MFI if you work freelance. Or a lease agreement indicating the monthly fee if you rent an apartment.
Repayments on previous loans will also allow you to draw conclusions about your income. If you give the bank or MFI consent to check your credit history, they will look at how much you have spent on average on repayment of loans and borrowings in the last two years, and will assume that your income is at least twice that amount.
It is better to immediately contact a bank or an MFI and discuss how to confirm income in your case.
The credit broker offered to make documents that I don't have. Is it legal?
If we are talking about a fake income statement, employment record or certificate of ownership of an apartment or car, then, of course, no. Moreover, lenders, as a rule, double-check borrowers' data through different sources.
Banks and MFOs also evaluate the veracity of information about your income based on open sources. The lie will almost certainly come out.
In the best case, the bank or MFI will simply refuse to issue a loan. But a sadder option is also possible. The borrower and the credit broker may become participants in a criminal case. If the deception is interpreted as fraud, then its organizers will face a fine and even jail.
The broker promises that I will be able to get a loan even with a bad credit history
To begin with, you should study your credit history yourself. Maybe she's not so bad. Small and infrequent delays, for example, for two or three days every few months, are usually considered technical. Most often, they do not affect the decision of the bank or the MFI to lend you money.
If you systematically delay contributions for a month or more or do not pay at all, then it is unlikely that the bank or the MFI will agree to issue you a new loan. The credit broker will not be able to influence their decision in any way.
Promises — to get a loan no matter what — may not be empty words, but a signal of danger. Often unscrupulous credit brokers work in conjunction with black lenders who illegally issue loans. They do not find fault with the documents, willingly lend money at cosmic interest. And in case of late payments, they do not hesitate when choosing methods for knocking out debts.
I don't have time to go to banks and MFOs. Can I entrust this to a broker?
It is not always necessary to go somewhere. The bank can approve the loan remotely if you already have an account in it. Many MFOs issue online loans to new customers, including for large amounts and for a long time.
You can also entrust the sending of applications to a broker. But in any case, whether you send the documents yourself or entrust it to an intermediary, you should not contact several organizations at the same time. Paradoxically, the more applications you submit, the less likely it is that you will be able to get money on favorable terms.
Before issuing most types of loans and loans, banks and MFIs are required to calculate the borrower's debt burden indicator (PD). To find out how much you are already paying on other loans and loans, they must, with your consent, send requests to the Credit History Bureau (BCI).
BCI calculates the so-called credit rating of the borrower. It shows how risky it is to trust a person with money in debt. Banks and MFIs receive this assessment together with their credit history and take it into account when they decide to issue a loan. A borrower with a low rating will most likely either be refused altogether, or they will lend money at a high interest rate.
Each bureau chooses its own rating calculation methods, but most of them take into account the same factors. For example, when several organizations request information about the same person from the BCI within a short time, the bureau often regards such behavior as suspicious — and lowers the rating. Although not essential.
The refusals that the borrower received from banks and MFOs worsen the rating more. For example, because of a bad credit history or a high PD. Some BKI take into account even those cases when a person did not provide the lender with consent to request a credit history and because of this he was not given a loan or loan.
A bad rating is unlikely to prevent you from getting a new loan if you have a stable official income, a low debt burden (PD) and there were no serious delinquencies on previous loans. But, it is likely that the interest rate will be higher than in the case of a good credit rating. And when everything is not so smooth, a low rating can become an additional reason for refusal.
To save time and effort and increase your chances of a loan, it is better to first select banks or MFOs with the most suitable conditions. It is worth evaluating not only the possible interest on the loan, but also other factors: for example, whether it is possible to transfer payments from another bank's card without commission.
If there is no time to do research, you can entrust this work to a credit broker. A good specialist will take into account all your wishes and make a list of organizations that meet your criteria.
How to find a good credit broker?
To begin with, it is worth evaluating whether you really need his help. Recall that credit brokers:
- can't guarantee that you will get a loan;
- do not affect the amount of the interest rate on the loan and loan;
- will not correct your credit history and will not increase your credit rating.
And if the broker also offers to issue fake documents about income or property, this is a criminal and you definitely do not need to work with him.
Without much fear, you can contact brokers who offer POS loans in stores. Usually these are employees of the outlet itself — and she is no less interested than you in getting a loan approved for you and being able to purchase their goods. Most likely, you will not have to pay for their services, since they receive a salary or commission from the store itself or the lender.
But even in this case, it is worth weighing everything carefully. Perhaps the conditions for loans offered by brokers are not the most profitable and you could find more acceptable options on your own.
In other cases, you need to be even more careful when choosing an intermediary. Honest brokers will show you the limits of their competence: they will help you select several banks and MFOs that best meet your requirements. And they will advise you on what documents should be collected to increase your chances of a loan. If time is more expensive for you than money and you are willing to pay for such services, then a credit broker can be useful to you.
It is worth choosing from those specialists who take a fixed fee, and not a percentage of the future loan. This way you will immediately understand your expenses for broker services. At the same time, it should be clearly indicated that you are ready to pay for the consultation, and understand that the money for it will not be returned to you, even if these tips will not help you get a loan.
There are no objective criteria for choosing credit brokers. There is no state register of credit brokers or ratings that could be a guide for you. So, as when choosing a real estate agent, it is best to rely on the recommendations of friends and acquaintances.