Understand Col-5 BI Checking and How to Clear It

BI Checking status is an important reference for individuals and companies to get approval for credit facilities from banks or financial institutions. Before applying for an Unsecured Loan (KTA), Credit Card, or Home Ownership Loan (KPR), your BI Checking Collectability will be checked first.

Collectability in the context of BI Checking refers to the extent to which customers or individuals fulfill their obligations in repaying the loans or credit they have. It is a measure used to assess the credit risk of a person or entity in terms of the likelihood of late payment or default on the loan or credit they receive.

What is BI Checking?

BI Checking, which stands for Bank Indonesia Checking, is a system used by Bank Indonesia to track and manage customer credit data. This system is important in credit assessment and monitoring the financial behavior of individuals and companies. BI Checking collects information on loans, credit cards, and other financial transactions to decide the eligibility of borrowers.

Factors Affecting BI Checking Col

Collectability in BI Checking is usually assessed based on several factors, including:

Payment History

This covers the customer's payment history, including whether they always pay on time or have frequent late payments.

Loan Balance

The amount of debt a customer has also affects collectability. If a person has many outstanding loans, this can affect their ability to repay.

Financial capability

A customer's financial capability is also a consideration. This includes their income, employment, and general financial situation.

Credit History

A customer's credit history, including how often they apply for new loans, can also affect collectability.

Late Payments

If a customer has frequent late payments or defaults on loans or credit, this will create a negative record in their BI Checking report, which may affect their ability to obtain new loans or credit in the future.

BI Checking Collectability Tiers

Collectability tiers in BI Checking are commonly used by Bank Indonesia and financial institutions to assess the credit risk of a customer or entity. The scale of these collectability tiers may vary between financial institutions, but in general, they use similar categories.

Here is a general example of collectability levels in BI Checking:

Collectability 1 (Col-1)

This category indicates that the customer or entity has an excellent payment record. They always pay on time, and there are no negative records in their BI Checking report.

Collectability 2 (Col-2)

Customers with Collectability 2 also have a good payment record but may have some very rare or mild late payments. Usually, customers with Collectibility 2 are still considered to be very good customers in terms of payment.

Collectability 3 (Col-3)

Collectibility 3 covers customers who have a fairly good payment record but may have some more significant late payments. These may not be serious enough to significantly affect their creditworthiness.

Collectibility 4 (Col-4)

Customers with Collectability 4 are customers who have a poor payment record. They often experience late payments or may have default records on some loans or credits.

Collectability 5 (Col-5)

This is the lowest category in the collectability tier. Customers with Collectability 5 have a very poor payment record, with many late payments or a significant record of default. They may be considered a high credit risk.

How to View BI Checking Information

Apart from BIK members, SID information can also be accessed by the public, including the public. For those who wish to know their credit record, they can apply for SID information at the OJK office. This service is provided free of charge. Below is an explanation of how to view BI Checking, as quoted from OJK's official website.

Procedure for Viewing BI Checking (SLIK):

Prepare your original identity card, such as KTP for Indonesian Citizens (WNI) or Passport for Foreign Citizens (WNA) if you are an individual debtor. For business entity debtors, make sure to bring a photocopy of the business entity's identity and the identity of the management, and show the original identity of the business entity.

Visit the OJK office in Jakarta or the OJK representative office in your area.

Fill in the SID application form.

If the documents are complete, the OJK officer will print the iDEB result.

How to View BI Checking Online:

Go to the SLIK application page at https://konsumen.ojk.go.id/minisitedplk/registrasi

Fill in the form and queue number.

Upload scanned photos of the required documents, namely KTP for Indonesian citizens and passports for foreigners. If you represent a business entity, include the identity of the management, NPWP, and company establishment deed.

Once all the data is filled in, click the "Submit" button after filling in the captcha field.

Wait for a confirmation email from OJK containing proof of online SLIK queue registration.

OJK will verify the data, and the applicant will receive a notification from OJK about the results of the online SLIK queue verification no later than H-2 from the queue date.

If the data you submit is valid, you can print the form in the email and sign it 3 times.

A photo or scan of the signed form must be sent to the WhatsApp number listed on the email along with a selfie showing your ID card.

OJK will conduct further verification via WhatsApp and conduct a video call if necessary.

If you pass the verification, OJK will send the iDEB SLIK result via email.

Make sure to always follow the procedures that have been explained carefully and use official sources from OJK. Keep proof of iDEB SLIK results well, as this information can be used for future purposes.

Also Read: Getting to Know OJK's Financial Information Service System (SLIK): Definition, Functions, and How It Works

How to clear Kol 5 BI Checking

1. Pay off debts or late payments: Identify and pay off your debts or late payments immediately.

2. Request Reconciliation: Contact your creditors to seek more affordable payment solutions or payment negotiations.

3. Inform Creditors of Financial Difficulties: Communicate your financial difficulties to creditors and seek special deals if needed.

4. Create a Payment Plan: Create a clear payment plan and follow it with discipline.

5. Monitor Your Credit Report: Check your credit report regularly and report any errors.

 

Negative records will disappear over time, so focus on timely payments and financial recovery. It should always be remembered that in the context of BI Checking, collectability refers to how good or bad a customer is at complying with their payment obligations, and it is an important factor in credit risk assessment by financial institutions and Bank Indonesia. The better a person's collectability, the more likely they are to get approved for a new loan or credit with better conditions.