The ZEK (credit information center) is the Swiss information center for credit information. It is linked to the credit activities of natural and legal persons. This maintains a register in which certain establishments such as banks or credit and leasing organizations enter codes relating to the payment habits of consumers who use their services.
Bad ZEK codes close the doors to future loan or leasing applications with varying deadlines. When you become aware of these bad codes, it often follows a credit application that has unfortunately been refused. These inscriptions, for example, result from:
- Several refused credit requests
- Delays in the payment of monthly payments
- Repayment issues that required payment arrangements with the bank
- Unable to pay all of your debt, the bank has lost money
Path to follow
Only the financial institution that entered the code(s) can delete them. There is no other alternative, except possibly directly attacking the one who manages your data (the ZEK). This, invoking its obligation to keep data up to date and its duty to provide access to the rectification of data (LPD).
If you can show the bank that it made a mistake and that the change is justifiable, you will have a very good chance of succeeding.
What are the codes?
As soon as you submit a loan application or start using a credit card, your credit history begins to be recorded at the ZEK. This in the form of a string of codes, the length of time these codes remain for is variable depending on the code. In these cases, the following questions should be asked:
- What do these codes mean?
- How long do they stay recorded?
- Can they be edited or deleted?
Personal loan code
Has your loan application been rejected? In this case, a code 99 will be registered at the ZEK with the reason for the refusal. However, you will always be free to submit a new application to another establishment. Have you accumulated several rejections? The more refusals you receive, the more banks will be inclined to refuse your loan application. Before having several refusals, call on our services and guarantee that you will obtain your loan under good conditions. Here is a small summary of some codes that can happen:
Codes 01 and 02: Codes without negative impacts. You have carried over a debt to a new contract. Or you have an outstanding loan and your commitments are honored.
Code 03: Moderately severe code. Your current loan has payment problems involving late monthly repayments.
Code 04: Serious code. Your credit has relatively serious payment problems. You are no longer able to make your monthly repayments and you have requested that these be reduced. Or you are in legal proceedings.
Code 05: Your loan or lease has suffered a total or partial loss of financing. Which means the bank lost money because you stopped making payments.
Code 09: It is an attempt at fraud, for example for falsification of documents and/or false data transmitted in order to obtain a loan.
Can You Do Anything When Credit Is Denied?
Do you have a bad code that negatively affects your application and would like to remove it in order to get your loan? In this case, call on our services and we will see together what is the best solution in your situation. Our experts know how to prepare and present your case to increase your chances of success. Above all, do not repeat a loan request after a refusal in another establishment. This would have the impact of obtaining a second refusal and losing any chance of obtaining your loan subsequently. At Lica, we take into account your situation and the history you have at ZEK before making your request. Thus you increase your chances of being granted your loan on very good terms. We also offer the cleaning service for your data.
Also be aware that if you think you have been the victim of a mistake on the part of a bank, you also have the right to request a free ZEK extract at the following link: https://www.zek.ch/fr-ch/preneurs-de-credit-et-de-leasing/donnees-sur-ma-personne.
You can then contact the institution or institutions involved directly and try to argue that the code is not justified.
Do you want to clean your data or request a loan? Go to Lica.ch !
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