The registers in question are databases recording the financial obligations of persons and organizations towards creditors. Their aim is to make it easier for banks and other entities to verify their reliability, resp. creditworthiness of a potential client. The registers are consulted by most credit companies, as the law requires them to thoroughly verify the applicant’s ability to meet their financial obligations.
In addition to income confirmation, they are another criterion for assessing creditworthiness. If you have forgotten the repayment of your loan, you do not have to worry that the credit market is closed to you from now on. Verification in the registers can be particularly difficult for chronic borrowers who repeatedly avoid payments.
How to register debtors
SOLUS is used by banks and non-banking companies, mobile operators, insurance companies and energy distributors. The client examining company will not only receive negative information about forgotten payments but also positive about proper and trouble-free fulfillment of obligations (it repays its loans without delay).
This information is provided by member companies that protect each other and try to avoid indiscriminate indebtedness of their clients so that they do not get into more financial distress. You can appear in SOLUS in case of repeated default or long-term default. The recording of this date then remains in the register three years after its payment, but already after the year the debt due to non-payment of the flat rate with the operator is deleted.
Entries in these two registers remain longer
Four years for late payments or outstanding commitments (eg invoices).
You can also find the Central Register of Debtors (CEDR). This register is quite problematic as the sources from which it obtains information about potential debtors are unknown. No credit provider cooperates with him and does not recognize his records as he is not protected against the input of fictitious information, so his data is worthless.
In addition, whether the person is in execution, one can find which bailiff leads the execution, when the execution was ordered and how much money is being recovered. Enforcement date are deleted 15 days after the end of the execution procedure when the debt is repaid. In the insolvency register can be found entities in insolvency and related documentation. The register shall keep the information on the insolvency proceedings already completed for a further 5 years.
You can also consult the registers, but these services are charged
Good Finance is a purely Czech non-banking institution that prides itself on professionalism, fairness and speed. As part of a responsible lending policy, it verifies the creditworthiness of its clients and thus protects them from reckless indebtedness. Since the information in the debtor registers is not always true and can be misleading, Good Finance looks into the insolvency register and the Central Register of Enforcement.