One of the clear advantages of private equity is to offer loans without CIRBE . These acronyms correspond to the Central Risk Information Center of the Bank of Spain, a public database service that reflects the debt capacity of a natural or legal person and that plays a very important role when evaluating a possible loan. For this reason, it is important to know what type of debts appear in this center and what consequences they may have when requesting financing.
What is CIRBE?
CIRBE is a public database in which financial institutions share all the data on the loans they have granted to their clients.
In this way, other entities can access and check, on a person or company, what financial pressure they are undergoing and other relevant data in order to grant new loans to a natural or legal person.
It is not a file like RAI or ASNEF, in which, to appear, the non-payment of a debt had to be generated. In the CIRBE of the Bank of Spain, there are all the people who request a loan of certain characteristics, without the need to have fallen into any default .
Thus, entities can access this data and assess the risks of those same users. Since the entry into force of the Law on Measures for the Reform of the Financial Sector 44/2002, they no longer require the authorization of users to be able to access the data stored in this file.
The Bank of Spain, responsible and regulator of this database, can in this way exercise its tasks of surveillance and supervision of the operations in which credit institutions embark.
What debts appear in the CIRBE?
All clients who have one or more credits or loans that add up to a debt of more than 9,000 euros in the same entity will appear in this public service.
These 9,000 euros or more can correspond to any type of product: endorsements granted, leasing, factoring, credit cards, mortgage loans, consumer loans ... All may, in addition, accumulate and it will be the sum of all of them that is relevant.
When what remains to be paid on the loan, through the payment of the financial product installments, becomes less than 9,000 euros, the person or company will disappear from this database.
Thus, the CIRBE only includes outstanding debts, that is, when what remains to be repaid is more than those 9,000 euros.
How to obtain our data?
Anyone has the right of access to their data and to rectify them if necessary. To do this, you have to carry out a CIRBE request through one of the following ways:
- In person, at any branch of the Bank of Spain.
- In the Virtual Office of the Bank of Spain , following the indications.
- By letter to the Risk Information Center (calle Alcalá 48, CA, 28014), attaching a photocopy of our ID and the address where we want to receive a response.
Can I apply for a loan with high CIRBE?
If we are looking for financing and we have already contracted many loans, credit cards, etc., it is likely that the financial institution will be interested in the state of our economy, through a request for information to the CIRBE.
In that case, if our amount owed amounts to more than 9,000 euros, the entity will be able to know it and thus get an idea of our ability to pay.
For this reason, if we request a loan with a high CIRBE , the bank is likely to deny us, since it will consider that we represent an unacceptable risk, especially according to current regulations, imposed by the Bank of Spain on conventional banks.
Being in CIRBE with a high amount of debt can close some doors, but not all. And there are some types of alternative financing that can give us the solution we need.
Loans without looking at CIRBE?
Some entities have greater flexibility when offering financing. Such is the case of private equity loans , which have all kinds of legal guarantees and are the perfect option that we can go to when we need it most.
These types of loans are usually granted independently of CIRBE, that is, regardless of the debts we already have with the bank. In this way, it is easy to obtain the financing we need when the rest of the possibilities are closed to us. In exchange, it is only necessary to have the mortgage guarantee of a property without charges .
The importance of being in good hands
When it comes to our money, we always want the best results. At Fasty Project Loans , they offer us personalized advice and a solution tailored to our needs, without hiring additional products or with flexibility to match your situation. Request information now without obligation and obtain liquidity in a fast, secure and simple way.