Negative entries in the credit bureau can be deleted prematurely, even if they are correct and self-inflicted. credit bureau allows consumers to quickly cleanse and thus preserve their creditworthiness for low and short-term payment defaults.
Germany’s largest credit bureau lists four conditions that must be satisfied for early deletion of credit bureau contributions. Firstly, credit bureau’s claim must not have been notified before 1 January 2007.
Second, the claim amount may not exceed 1,000 usd.
Thirdly, the claim must have been settled within one month, which must be confirmed by the creditor within this period. Fourth, titled claims are excluded from the special arrangement.
All the above criteria must be met in order for the scheme to be applied to the shorter storage periods. If this is not the case, the regular treatment takes effect: after full payment of the claim, it remains as “completed” in the database of the credit agency for three full calendar years. Contracting parties of the credit bureau inform the credit agency about outstanding, adequately remunerated and undisputed claims.
Avoid long-term damage to credit
The credit bureau, according to its own admission, wants to give consumers with one-off payments or short-term financial shortages the opportunity to avoid the very long-term damage to their credit. The shortened retention periods can also be in the interest of creditors: they provide an incentive to meet liabilities if at all possible.
Negative credit bureau entries are a major limitation for everyday consumers in everyday life. With negative features, installment loans, credit cards, and even current accounts are difficult or even impossible to obtain. Mobile phone contracts with subsidized equipment or orders in the mail order company on account are also not possible.
The credit bureau stores according to personal data to 65 million people. Overall, the database has 440 million features. According to credit bureau, more than 90 percent of people have exclusively positive data, such as: B. Information about a promptly repaid loan, payment transaction accounts or mobile phone contracts.
If you do not meet the criteria for early deletion, you must continue to use credit, payment transactions and similar products on products that are also available with negative credit bureau income. These include z. B. installment loans without credit bureau, where no query of the credit agency. With smaller credit bureau often even more options. Our official loan, for example, is just as available with moderate negative features as the golden Creditlope MasterCard.