Credit Bureau assesses your creditworthiness. Banks, mail order companies, landlords and many other companies want information about future customers or partners in order to check their creditworthiness. But you also have the opportunity to see what Credit Bureau has to say about your own creditworthiness. Especially if a move is planned. Once a year you can get free information from Credit Bureau. Even if you have no debt, data is usually stored on you. Even if you make an invoice when buying or finance your car, take out a loan, this information is reported to Credit Bureau.
The following data is stored at Credit Bureau.
- Contact details such as name, address, date and place of birth
- Credit agreements, leasing agreements with details of the installment amount and term
- Opening of accounts and credit cards, which also includes what accounts are involved (current account, garnishment protection account or credit card)
- Established customer accounts e.g. B. for mail order or telecommunications accounts
- Misuse of accounts or credit cards
- Information from public directories and official announcements such as taking the affidavit, filing for and opening insolvency proceedings or rejecting the insolvency proceedings due to insufficient quantity
As you can see, Credit Bureau provides a lot of information about your solvency. If you are in debt yourself, this is certainly not perceived as positive. But if you are self-employed, Credit Bureau information is very helpful. You have the opportunity to inquire about a new contractual partner and their solvency before entering into a business relationship.
If you know that the new contractual partner has payment difficulties, you can either insist on cash payment on delivery or not enter into a contractual relationship at all. Of course there are also companies where it is not possible to check every customer for their solvency. In this case, you always have to live with the risk that you will not receive your money for the service provided.