Check your credit score!

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check Check your credit score!

Check your rating now with ZEK, CRIF, etc. Clean it up if negative!

If you don’t, you won’t be able to get credit, leasing, or bill payments through various platforms, and you may be denied housing and jobs!

Financial data verification institutions scrutinise your actions related to the regularity of your payments and the assiduous respect of your commitments (e.g. ZEK/IKO, Cresura, Intrum, Creditreform, CRIF). They look to see what kind of risk profile you possess and what kind of rigour you have with your financial commitments.

What they are interested in?

  • negative codes at the ZEK/IKO
  • monthly payments and regularity of payments
  • credit card balances and repayment schedules
  • payment delays
  • prosecution/order to pay

risk gauge, payer class, credit score
Credit rating - CRIF - Credit score

Cleaning up some critical points may need manual actions and involvement of your creditor (the person you owe money to).

This is critical for your applications: whether to obtain a credit (leasing, mortgage, etc.), a credit card, housing and, in some cases, a job (police, medical field, teaching, etc.). The quality of your score is decisive.

The worse your credit score, the higher the rates that financial institutions will charge you.

Swiss financial intelligence companies have no secrets for us! Our long experience allows us to know precisely the codes and opportunities for improvement, to make you benefit from the best rates.

Frequently asked questions about credit scoring / credit rating

What is a credit rating, also known as a credit score?

There are registers in Switzerland that allow any organisation to know your credit rating (also called scoring). Banks, property managers, car dealers… any organisation lending money, renting real estate, leasing… consult these records before validating a decision. Needless to say, your score can work in your favor and against you if you are considered a bad payer.

Liquidity, solvency and creditworthiness are the 3 major criteria considered by the bank.

  • Liquidity: these are all cash and account balances. As a general rule, we add up your salary, pension, rent or dividends and subtract your largest expenses (rent, ongoing commitments such as recurring subscriptions, etc.)
  • Solvency: this is the history you have with the Public Prosecution Office (PPO).
  • Honorability: it is the capacity of a person to pay or to honor the credits, it is what the organizations scrutinize either your habits and regularities of payment.

You have regular cash flow

There is a positive difference between your cash inflow and your current expenses.

You are reported as creditworthy

There are no negative reports to the Prosecution Office.

You are reported as honorable

You have a positive history with the ZEK (Central Credit Office).

What are the creditworthiness databases in Switzerland?

The cantonal debt enforcement registers, ZEK, Cresura, Intrum, Creditreform, CRIF, IKO are organizations that archive your late payments, negative ratings and negative codes filed against you, unpaid invoices, credits not repaid on time and all irregularities related to payments in connection with invoices, credits and credit cards.

The consumer credit law requires lending banks to check your data in these databases before accepting an application. Millions of payment orders and seizures are made every year in Switzerland. This shows the amount of information that these databases incorporate every day.

Why have official records checked by a professional?

As all these organizations resell this data to banks in the form of a subscription for all companies wishing to check the creditworthiness of their customers … You can find yourself in a downward spiral by being registered with various institutions that use more or less intrusive criteria.

For example, in the CRIF database, there is a “lawsuits” section. Under this “official” part, there is a box for reporting by partner stores. If, for example, there are still open charges (you decided not to pay the reminders but only the initial invoice) or there was a delay in a payment even though it didn’t go to court, or you had to renegotiate a payment arrangement due to unforeseen financial circumstances, you could be listed as a bad payer! Only a professional knows exactly what these codes mean and what can be done as well as the deadlines to be respected before launching a new financial operation (credit application in particular), in order to benefit from a more advantageous risk class and minimized rates. If you are considered a good risk, you will get better rates and it depends on your record with the economic intelligence agencies.

Why is there incorrect data in these databases?

There are many reasons for this, such as human or technical error, or a delay in updating your status. It is important to note that the data may change based on a withdrawn complaint, a cleared payment or a completed seizure. However, it is important that these data correspond to your reality. This is often not the case.

Lately, some cases are open to interpretation to avoid a double penalty effect.

How can I check that my credit rating, also called credit score, is good?

Frequently, history is misinterpreted or noted in these records. Our teams have extensive experience in this field and know all the workings of the systems involved.

Deleting negative data and ensuring that the annotations are accurate and representative of your current situation will improve your score so that you have the right credibility with decision-making bodies. You can then benefit from better rates and more advantageous solutions.

We provide you with the information and help you take the necessary steps to ensure that you understand the negative codes and the steps to take.

What are the consequences of a negative credit history?

It is very difficult to be granted a loan, a credit, a lease, a credit card, a rental agreement, or even monthly payment facilities if you are registered in the central economic intelligence systems. You may be denied credit, leasing, a credit card or be given less advantageous terms.

  • You did not pay your credit card balance on time. Check your limit, you may not be allowed to carry the balance.
  • You have not paid your monthly payments on time.

But not only a bad credit card history! Any payment that has gone wrong can bring you a lot of trouble.

  • Forgot to pay your telephone subscription (Swisscom, Salt, Sunrise)?
  • You forgot to pay your electricity bill, and got a reminder via a collection company?
  • You forgot to pay a medical bill and you have been threatened by the company INTRUM, INKASSOMED?
  • Have you been late in paying your fitness membership and run into a collection company of some sort (there are hundreds of them)?

Yes, this too can make you ineligible for many programs, credits, housing and even in some professional fields! Companies prefer to sell their invoices to companies that spend 100% of their time reminding customers, issuing reminders, ordering payments and taking legal action! Why ? For their image and to be able to focus on their core business, lowering management costs while lowering their risk of non-payment by customers.

How long does a financial diagnostic take?

After 24 working hours, you will receive a basic diagnosis.

After 3-5 business days, you will receive a complete analysis and report on your financial situation and advice on the steps to take.

How much does a financial diagnosis with Multicredit.ch cost?

From 200 you can enjoy a complete service including:

  • analysis of lawsuits
  • budget analysis
  • analysis of the documents of the central credit office (ZEK)
  • economic research, study of the file

Why choose MultiCredit?

Our advisors have worked for several years in various financial institutions and know very well the authorities to contact, their functioning and all the hidden boxes in which toxic information about you could reside.

Our diagnostic allows us to go further than an automated procedure generated automatically by most providers as we verify additional elements.

If you want to review your situation, do it with a highly qualified provider!

MultiCredit tip: Take back the reins of your finances and avoid paying too much or being excluded from many services or the best opportunities all your life!

Many of your projects may suffer from a financial situation with a negative history in the records of banks, credit rating companies and regulatory bodies.
If you have seen opportunities slip through your fingers several times, you must suspect that your rating has hurt you! We are here to give you back your financial independence so that you can enjoy life to the fullest and not be relegated to the background.

MultiCredit, benefits from the numerous recommendations of its clients and thanks them for their support.

 

At your service !

For more information, consult our specialist or ask us for an offer!

T: 026 322 23 10   M: 079 936 31 75
info@multicredit.ch

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