Schuf has surprisingly announced an important change. Negative entries on personal bankruptcies should no longer be stored for three years, as was previously the case, but for a much shorter time. The credit agency did not want to wait any longer for the verdict on an ongoing lawsuit.
Schufa: Private bankruptcy only saved for six months
The Schufa is now shortening the storage period for completed private bankruptcies. Entries of this type are no longer three years, but only held for six months. According to a spokeswoman for the credit agency, the aim is to create clarity and security for consumers.
Details of the background to the sudden rethinking were not given. But it is certain that the Question about the storage period already landed in court is. A former self-employed person from northern Germany who had to file for bankruptcy was bothered by the long storage period. According to the plaintiff, the negative entry ensured that he did not get a rental apartment.
The plaintiff points out that his entry in the nationwide insolvency portal disappeared after just six months, but that his Schufa entry should remain in place for much longer. Schufa refused to delete the entry and referred to common rules of conduct for credit agencies (source: hot online).
The Federal Court has the case submitted to the European Court of Justice. In a legal opinion by the responsible attorney general, it is doubted that Schufa is allowed to store data on completed private bankruptcies longer than the insolvency portal.
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Does the Schufa scoring now also tilt?
An expert at the highest European court is of the opinion that the creation of score values for creditworthiness by Schufa violates European law. A decision on this is not expected for a few months. Should it fail against the credit agency, it could the Schufa scoring itself is about to end.
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