This is the credit history of the individual in question, where they have at least one infringement of a contract or payment in which they have the role of borrower or guarantor. A negative credit history focuses only on negative information (including historical data). The most important area is information on the status of payments, which indicates the number of days involved in any late payments and payment infringements in all active contracts.
By requesting a negative credit report, a company can make sure that the individual in question has no outstanding commitments.
Banks, leasing companies, or licensed consumer creditors have the ability to identify bad customers. A negative credit history provides information on a customer’s current or potential outstanding debts. Comprehensive information on outstanding commitments is one of the key preconditions for making secure decisions.
The KIB receives information from banks, leasing companies, licensed consumer creditors, telecommunications companies, utility service providers, and other companies that have agreements with the KIB to provide data.
Information on past due payments is stored in one’s credit history for a period of five years. Information about outstanding commitments is stored in one’s credit history for a period of ten years.