Credit report is an important document generated by the Credit Registry, which contains both positive and negative information on the credit history of the borrower, information to be used by credit providing institutions during the process of credit applicants’ assessment.
Content of Credit Report
Credit Report contains information on personal data, current loans, credit history and data on related person.
All information reported in the Credit Registry is confidential according to legislation and regulations in force, which are held on the Credit Registry database. Information disclosed in Credit Report, including information on personal loans and the loans in which the borrower has a related person role, will appear on the credit report for at least 5 years from the moment the loan is repaid in full.
Role of Credit Report when applying for credit
When applying for credit, the Credit Report along with other relevant factors such as the financial situation, the capacity to pay timely, capability to secure loan through collateral (mortgage and / or pledge) will provide concrete data that can affect the approval or rejection of the application for a loan by a credit providing institution.