SLIK (Financial Information Service System) is at the heart of the credit assessment process in Indonesia. Without SLIK, it would be difficult for financial institutions to make informed credit decisions and high risk for debtors to gain access to financing. Therefore, maintaining a good credit history in SLIK is of utmost importance for anyone wishing to engage in lending activities.
For information, SLIK is the latest system from OJK which was previously called BI Checking. Currently, BI Checking is no longer used, although the name is different, the basic function remains the same, which is to record the credit history of every customer in Indonesia, including online loans (pinjol).
So, how long does online loan debt history appear in SLIK OJK?
Reporting from the IdScore institute website, when debtors still have outstanding loans, loan service providers will continue to store borrower data for administrative purposes such as credit reporting and tracking. This means that borrower data cannot be deleted as long as the online loan debt has not been paid in full. Therefore, paying off the loan will not only stop the interest and additional fees, but it is also the main requirement before the borrower can submit a data deletion request.
At the same time, this data will be reported by the relevant online loan to OJK's SLIK as a credit record. There all unpaid debts up to the timeliness of payment are recorded. Likewise, if the debt has been repaid, the related online loan is required to report the repayment to SLIK OJK. Usually, data updates are made a maximum of 30 days after reporting the elimination of bills.
After that, the credit service provider will also issue a certificate of bill repayment to be stored. If the data in SLIK OJK has not changed within this time frame, the debtor can file a complaint with the lending institution.
How to Clean Up a Bad Credit Record
The only way to fix a bad credit record is to pay off the entire bill, including principal and interest. After repayment, the debtor can request a certificate of repayment and recheck the data in OJK's SLIK. If you are unable to pay off all debts at once, try contacting the creditor to find a more flexible payment solution, such as restructuring or lighter installments.
If there are any discrepancies in the debt records, immediately contact the creditor to submit a correction. If an error is proven, the record can be corrected and removed from your credit history. Be sure to ask for written confirmation as proof that the issue has been resolved.
After paying off your debt, your name won't be immediately cleared from the bad credit history list. But after repayment, you can monitor your credit score through SLIK OJK to ascertain whether your credit status has been updated or is still in process.
After resolving the credit issue, the data update process in SLIK OJK usually takes a maximum of 30 days since the repayment report is received. During this period, the credit provider will also issue a certificate of repayment or write-off that can be used as official proof.
OJK will update the credit score in SLIK within a maximum of 24 months from the last date of payment of arrears. By ensuring that your credit record is clean, you can apply for loans to banks or other financial institutions again without any problems.
Source: finance.detik.com
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