Schufa

The Schufa Holding AG is a company that has made it its task to protect against their party that the customer can not repay their loans. This can make the Schufa, since the parties to make their data available to it which are then stored by the Schufa about each person. The contractors Schufa both banks, as well as large companies and telephone companies.

All these give the customer's data, such as opening a bank account or the inclusion of a credit to the Schufa further. If payment irregularities, or even with a complete lack of due payments are allowed the company to report this Schufa. This is then stored, and the next query of a company that can then immediately see how the potential customer meets his payment obligations. For customers in Germany, it is almost impossible, something that has to do with money transactions without making the Schufa information. Since this information is for the companies the only way to learn about the customers. That is why so many companies are connected to the Schufa. For many customers the Schufa information may, however, also draw negative repercussions, since the data will remain for at least three years, even after already repaid debts, stored in the database. This then deteriorated even after such a long time still the position of the customer with the donors. In addition to this information is out for the Schufa firms also called a score value on the customer.

This is a statistical probability value indicating the failure credit. The exact calculation of the value is of the Schufa not disclosed, so that it is a very opaque process for the customer. The calculation includes the number of checking accounts and even personal items such as the number of removals one. The resulting value is to the scoring value that can be passed on to different companies.

Get dutch informations here.