When you apply for a loan at any bank, one of the conditions for approval of the same that banks will set for you is a regular credit report, which is visible from the HROK (Croatian Loan Obligations Register). Namely, since 2005, when the banks established HROK, it stores and processes all data on the monetary liabilities of clients and other financial institutions, thus monitoring how (in) proper payment of loans to individuals and legal entities.

HROK expanded the market to non-banking companies

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In short, anyone who has ever borrowed money from any bank in the form of a loan, loan, or loan has the loan record recorded in HROK’s credit report (as well as whether it repaid it on time). If you have or have a loan from a bank and need another one, chances are that you will get one if you have not been a tidy payer by now.

This is actually one of the main reasons why more and more people are interested in loans without insight into HROK in credit companies that provide loans and loans without insight into HROK’s report.

Banks are increasingly being circumvented due to HROK

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Because of all this, several years ago, credit companies became a destination for anyone who would need loans without a glimpse of the HROK; and with such financial lending they have also helped those who are no longer considered creditworthy by banks. However, credit is not the only item that is collected and stored in the HROK.

Therefore, when considering a loan application, banks may also ask HROK for the security instruments you offer as a money back guarantee, liabilities that you have as a co-debtor or guarantor, income and employment data, etc. Being aware of the small possibility that due to the HROK report, and when they approve a loan, people of the bank are increasingly circumventing the search for loans without seeing the HROK – so they opt for a loan from one of the loan companies whose terms are much less rigorous.

And even though HROK as a company originated as an idea of ​​banks (in order not to reduce the issuance of so-called risky loans to high-risk clients), they were quickly joined by leasing and card companies, leaving little choice for those with a messy HROK report – and even when it is the sole sin of the customer to be the guarantor of someone whose creditworthiness does not look promising (so there is a risk that the loan will become a burden to the said guarantor). Often then, when looking for loans without insight into HROK, the client often turns to credit companies whose conditions are generally much easier to satisfy than those on which banks insist.

The HROK report is not only monitored by banks

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Loans without insight into HROK can be obtained from crediting companies, which are in fact the only institutions that legally issue loans and without insisting on HROK data. The very idea of ​​this kind of monitoring of potential clients was born in 2005, when 20 Croatian banks started to set up a company to supervise the fulfillment of credit obligations; to date, HROK has accepted 27 out of 31 banks in our market, and soon other financial institutions have joined them in processing and exchanging lending data; two card houses, certain leases, and all five housing savings banks; all with the aim of further insuring against the risk of non-payment of loans, but also to reduce the possibility of excessive credit borrowing by the population.

If, after learning about the concept and function of HROK, it occurred to them that when one bank receives a loan from another bank, it quickly became clear that banks and other financial institutions were sharing their knowledge and that they were not able to access the HROK for a loan. it will not be enough to visit another bank – HROK data is updated regularly and networked across all banks, for those with a bad credit history, credit companies have become a great solution.

That is why for over ten years all over the world, including in Croatia, they have been worrying about those that banks have rejected. Although they take on more responsibility by issuing loans without insight into the CROC, they also have their own security instruments, which do not prevent clients from lending. Their protection against bad credit is mostly based on the issuance of smaller loans for shorter repayment periods – which at the same time actually protects the client from the long-term debt of a large sum of money.

Many are wondering how to get credit without HROK insight

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HROK doo (abbreviated from the Croatian Register of Liabilities under the Company’s Loans) was founded in 2005 by 20 banks from the Republic of Croatia for the purpose of collecting, processing and exchanging information on clients’ credit obligations, their total indebtedness and regularity in fulfilling their obligations – more precisely HROK- this report is a summary of the client’s monetary obligations (whether of a natural person or a business entity), and of how well they are settled. This applies only to credit information, debt leasing, etc., but not to current or savings account balances, time deposits or other assets entrusted to the client by the client for safekeeping.

HROK today and ten years ago

Today, out of a total of 31 banks operating in our area, 27 are members of HROK, all five housing savings banks in the Republic of Croatia, two card companies and a couple of leasing companies). In HROK, as was the original idea, the data on the monetary liabilities of each client of a bank or other financial institution is stored and processed, so we can say that HROK serves as a basis for assessing credit standing, but also for monitoring how much they are (no ) are neat in researching their credit obligations to them. Since one of the most important conditions for repaying a loan to almost any type of loan is one of the most important conditions, the chances of getting a loan from a bank if your HROK report is not good are almost impossible. In short, anyone who has ever borrowed money from any bank in any form has that loan and will always have it recorded in HROK’s credit report – as well as showing whether they repaid it on time.

When does HROK approve another loan?

If you already have or just have a loan from a bank and need another one, chances are that you will get one unless you are always an impeccable payer who of course also fulfills other loan requirements. However, you may be denied credit because of a large debt to a leasing company or credit card company, but if you have an account that is in the illicit, red minus … All these are the reasons why more and more people are opting for loans without a glimpse of HROK and requesting credit houses for information about lending to such non-banking institutions.

Credit companies meet the need for credit without having to look into the HROK

Because of all this, several years ago, credit companies became a prime destination for anyone who wanted a loan without a glimpse of the HROK, and with such a financial loan they helped those who were no longer considered creditworthy by banks; and even if it was just because of the irresponsible guarantor who “sabotaged” them with a positive HROK report, even if they repaid their loans for years … But credit is not the only item kept in the HROK.

Therefore, when considering a loan application, banks may also ask HROK for the collateral that the client may offer as a money back guarantee, or the aforementioned obligations that you have as a co-borrower or guarantor, cash and employment information, etc. they are granted credit because of the HROK report, many are seeking loans without insight into the HROK, so they opt for a loan from one of the loan companies whose terms are much less rigorous.

HROK also cares about security instruments

HROK’s credit report, along with information on credit and other monetary liabilities, also contains information on the liability insurance instruments; that is, the obligations of clients on behalf of the co-debtor or guarantor, and even at the request of financial institutions, contains information on employment, employment contract, etc.

Data are provided to the client by the user of HROK (bank, leasing, card company, etc.), and in the database of HROK they are updated once a month. This also protects financial institutions from the risk of bad credit. But the fact is that, by all measures, conditions, and insurance, banks do not issue much fewer loans that prove to be bad loans later than other credit non-banking institutions that do not set such conditions on the client.