Answering the question about what personal data a loan company may request, it is best to start from scratch. What we should always expect are requests to provide basic personal information.
If you decide on a loan paid out to your account, you will also be required to provide your bank account number. Usually you will also need a phone number so that you can contact us quickly and inform you about, for example, granting a loan.
What will they be used for?
The first, basic reason why a loan company will require us to provide basic personal data is, of course, the option of paying money to the right person and – of course – knowing who to give it back to later.
The second reason is less obvious, although most understandable: most loan companies use personal data obtained to check the so-called database of debtors, e.g. BIK (Credit Information Bureau) or BIG (Economic Information Bureau). They contain entries informing about our credit history. If you have ever taken a loan or credit before, the databases provide information on whether we paid the installments regularly and according to the contract, or whether there were (or still are) problems with it.
Processing of personal data
We see it virtually everywhere, even when ordering cinema tickets electronically: a check box indicating consent to the processing of personal data. It is no different when applying for a loan. In order for a company to operate (i.e. use our data for verification), it needs permission to use information received from us. This is the most compliant with the Act on the processing of personal data.
In the event that our personal details and / or bearings were to be used for marketing purposes, written consent is required from us. It may be included in one of the points of the contract or in an attachment. We have no obligation to agree to this, but if we do not see the provision specifying this issue in the contract sent by the company, let’s ask.
Additional information that the loan company may request is, for example, data about our earnings. Not only their height, but also their source will be important. How to prove them? Do we need to get any special work certificate?
For some loan companies, for example, a bank statement on which we will show constant income will be enough. We can generate such a statement by logging in to our bank’s website or go to its nearest branch and ask for a printout there, which can then be sent by post or courier or simply scanned and delivered to the lender electronically.
Another verification document that the loan company may request is a certificate of employment – our employer will issue it to us immediately. This is not a common and common practice in the case of so-called payday loans, i.e. loans for relatively small amounts and a short repayment period.