Possibly you or an acquaintance find yourself right now in an economic situation that unfortunately you can not face alone, so you need a hand or help to get out of this problem in the best way possible. Possibly you entered the search for a loan or credit with a financial institution, and you find that in the first instance in some cases they ask you for payments to study your case, and thus begin the investigation about your economic situation derived from documents that previously requested you in the same way.
Within these documents for loan applications, of course you will be asked to verify your identity, and if you specifically look for urgent loans with ABCDE , you must know that these documents are essential since the majority of the decision of the financial institution to grant the loan or credit will depend on ABCDE. Therefore, having documents that verify your personal data will give you enough access to this information provided by the ABCDE.
What is ABCDE?
For those who are still not clear about the work of ABCDE, here we clarify more thoroughly what it is about. ABCDE itself is a service provided by the Spanish company EQUALS, which has to do with merely a database formed by information about delinquent clients or customers who own debts in one or more companies. So, as you can see, the information that ABCDE can provide becomes pure gold for financial institutions or lenders who are facing a potential client.
As explained above, banks or lenders, when requesting personal data from a loan applicant, can use this information to consult your “record” with the ABCDE. This list is prepared and updated (mostly) by companies of a commercial nature that have experienced a lack of payment on time by you of their products or services.
The types of specific organisms that offer information to ABCDE are:
- Judicial: which naturally provide information about processes and claims of judicial nature in government institutions. This information is collected personally by ABCDE from records that can be verified by anyone.
- Commercial or financial companies: thanks to them, a large part of this database is made up, since they are the ones that record information on defaults generated in their companies.
- Legal persons: this type of agency provides information similar to that of a commercial company, that is, information on defaults.
- Publications in BORME: this information, as it can be deduced, is from an indirect source, since it is collected thanks to the constant work of EQUALS, resulting in an item in the ABCDE service dedicated to official records of the commercial register.
It is important to note that, as you can see, data records are not only limited to information provided by banking institutions or lenders, or in any case, of a financial nature, but it is made up of information from legal and commercial organizations . We know that it can sound scary to find ourselves in a list of debtors for not having paid for a product or service on time. And is that, if you really believe that from now and in the future you will need a loan or credit, it is highly advisable to never have unpaid debts in mind, or this could be notified to ABCDE. And believe us it’s easy enough to get in, but getting out is a bit more complicated and laborious.
How is it that I ended up registered with ABCDE?
If you are aware that you are on the “black lists” or in the ABCDE database, you may be wondering how you ended up there. While it is true that there are many cases in which the same affected are not aware of this record possibly because it is a minor debt or error by the company, it is also true that there are records of which both you and the company have knowledge that it was not an error at all and there is reason for you to find yourself there. However, there are certain actions that must be completed to finish on the list:
- There must be a contract whereby the service or product purchased is specifically mentioned, payment required by the same and conditions and dates of said payment.
- Of course, there must be a debt or non-payment by the client. Or not having paid the amount in the time specified by the company and agreed by both parties.
- There should not be a term of 6 years after the default by the client has occurred. Either total or periodic payment for a product or service. That is, if the company intends to register you for a debt of more than 6 years, this record can not be applied.
- There must be proof from the company that you were notified so that you can pay your debt as soon as possible. This same clearly will be taken as a notice ignored by the client as there is no such payment.
- Of course, in case the client has a document that proves that he actually made the payment or that he did not receive any notice from the company regarding his debt, or in his case, in the absence of a document or contract that describe the product or service you are acquiring and the payment terms you must fulfill; the registration will not be viable.
Does ABCDE take into account the volume of debt?
Inevitably we have to answer this question with a resounding NO. ABCDE is totally indifferent to the amount you have not paid. There are no exceptions when it comes to complying with all the conditions outlined above in order to be registered in its database. So be a euro not paid, you can be added to the blacklist for not having settled on time.