How to Clear Your Name from OJK SLIK or BI Checking

Public access to financial services, particularly financing, is heavily influenced by credit scores within the Financial Services Information System (SLIK) of the Financial Services Authority (OJK), formerly known as BI Checking.

The worse an individual’s credit score, the higher the likelihood that their financing applications will be rejected by financial institutions, such as banks and multi-finance companies. Furthermore, the OJK has now regulated that P2P lending platforms are mandatory reporters to SLIK. Consequently, loan histories within P2P lending also affect an individual’s credit score.

Prior to the release of this regulation, the Indonesian Real Estate Association (REI) noted that 40% of mortgage (KPR) applications were rejected due to poor credit scores, citing arrears in online loans as a primary cause.

Additionally, the OJK has highlighted cases where job seekers failed to secure employment due to obstacles presented by their credit scores in the OJK SLIK.

Agusman, the Executive Head of Supervision for Financing Institutions, Venture Capital, Microfinance Institutions, and Other Financial Service Institutions at the OJK, stated that SLIK data can be updated once a borrower has made payments or taken steps in accordance with applicable regulations.

Currently, SLIK checks can be performed independently. Therefore, individuals should check their credit scores before applying for any loans.

According to pegadaian.co.id, OJK SLIK scores are divided into five categories. A customer with a score of 1 has the best credit history, while a score of 5 indicates issues with bad debts.

It is important to note that only debtors with scores of 1 and 2 can apply for bank loans without encountering problems. Customers with scores of 3, 4, and 5 need to clear their credit records first.

Credit scores can be identified through the official website idebku.ojk.go.id. So, what should be done if one already has a poor credit record?

If there are still unresolved credit arrears, the only way to clear a bad credit record is to settle the outstanding obligations.

However, there is a possibility that credit arrears appear due to an error. If such an error is suspected, the necessary step is to contact or report the issue to the relevant parties.

Typically, OJK SLIK data updates are completed within a maximum of 30 days from the date of settlement. You can also request a certificate of settlement (SKL) as evidence when applying for new credit.