Since Schufa is the benchmark for consumers when it comes to creditworthiness, you should regularly get an overview of your data. This is the only way you can have unjustified Schufa entries deleted and your credit rating restored.
The fact is that Schufa is informed about each of your transactions, contracts, current accounts and credit cards. A current loan, a debt that has not been paid or has been paid late, your personal information and credit inquiries make up a large part of the data collection. Actually, Schufa should delete entries as soon as they are settled and the storage period has elapsed.
But as the consumer protection announces, numerous creditworthiness information is faulty and quite without basis restricting. If you are aware of false, incorrect or undisputed Schufa entries, you can delete these Schufa entries and increase your credit rating. How this works and what you should pay attention to, you will learn in this article.
Request free Schufa information once a year
The legislator has regulated the collection of your annual information. You can request a free report every 12 months and find out how your score and thus your creditworthiness is doing. Unfortunately, the free request can be searched for a very long time, because there is no transparent, at first glance recognizable link on the pages of the credit agency to obtain the information free of charge.
But you should not be put off by this, because the form is available and can be obtained by the consumer free of charge via download, filled out and sent by mail to the Schutzgemeinschaft zur Kreditsicherung. In a period of between two and three weeks you will receive your document at the postal address where you are registered with the police.
A different address or shipping via the Internet are excluded according to the terms and conditions. Take your time to check the Schufa information. Many companies and creditors do not report a settled debt, so the amount you may have paid for some time is registered as an outstanding debt. Having such Schufa entries deleted requires direct contact with the company and a report to the credit agency.
The best thing to do is to write a letter stating that you would like to have the erroneous Schufa entries deleted and for what reason. Set a deadline after which you check your overview and verify your creditworthiness by means of another self-disclosure.
What data do you see in the self-disclosure?
The written report is a complete overview, which consists of a total of three parts. On the cover sheet are your personal details. The first page is for contractual partners and contains the score, as well as a written representation of your creditworthiness. Only on the following page it becomes interesting, because here all relevant information about the creditor, a credit and credit cards, as well as the time of the entry in the register are located.
This sheet is for your records only and serves as a reference point to have invalid or incorrect Schufa entries deleted. If you would like to have these Schufa entries deleted, you must make contact personally and must not rely on the fact that the credit agency automatically deletes and constantly checks your creditworthiness-related data.
Attention: If you request a loan from a company, a corresponding report goes out to the Schutzgemeinschaft fur Kreditsicherung (credit protection agency). This is visible within 10 days for potential business partners and your creditors. It is different with condition inquiries, which are likewise reported, but take no influence on your creditworthiness.
This is also the point where most mistakes happen, as can be seen unadorned when obtaining the Schufa report. Not infrequently, dubious banks report a condition request as a request for a loan. So that you do not have to accept any restrictions, you can have these Schufa entries deleted and present your communication as evidence.
What the consumer advice center says about Schufa
Consumer advocates criticize that many negative entries are incorrect or remain on the registry longer than the time limit specified. Especially in the case of credit applications or a discharge of residual debt, the error rate is high. If the consumer gets his Schufa information, he often finds several months after the deadline Schufa entries to delete.
Also, not all of the creditors' claims are justified, as consumer advocates are increasingly discovering. If one wants to have false Schufa entries deleted, one faces a difficult task and must provide proof why the claim is unjustified.
While any creditor can register a claim, you must show why the data you are complaining about is not correct when requesting that false Schufa entries be deleted. Almost every third self-report has negative information, which should have been deleted long ago at the time of retrieval by the consumer.
Negative and positive entries: Here are the differences
Not all Schufa entries have to be deleted. In addition to negative information, there are also entries that have a positive effect on the consumer's credit rating and credit approval. If bills from credit cards and contracts are paid reliably and without delay, cell phone contracts are paid on time and a high income is achieved, these are positive entries.
On the other hand, there are Schufa entries that should be deleted and kept in mind. Since an entry remains with Schufa for up to 36 months after it is disclosed, the deadline for deleting Schufa entries often falls into oblivion. This period applies only to negative entries and is not related to the deletion, which must take place immediately. Immediately after termination, Schufa must delete entries related to current accounts, cell phone contracts, guarantees and credit cards.
Be sure to keep the positive data, while in favor of creditworthiness delete all negative Schufa entries and give the credit agency a deadline for false entries. Reserve the check and announce this also with your order to delete negative Schufa entries.
Why companies want to know claims of your creditors
Have you claimed a discharge of residual debt or are you repaying a loan? If dunning notices have been issued against you, if you are insolvent or have not paid rents on time or at all in the past? This is data that a potential contractor will be aware of. In doing so, he does not get to see the creditor who has reported a claim to Schufa.
Nevertheless, after a look at the overview, he knows what risk you bring as a contractual partner and how it is about your solvency and about the payment morality. Not only in the case of credit, the company wants to know how high the probability of reliable repayment by the consumer is. Landlords also attach great importance to self-disclosure and are entitled to demand it from you.
Open and late paid debts have a negative impact on your credit rating and can be the deciding point whether you or a competitor will get the longed-for apartment. If financing is involved, the overview at Schufa plays an even more important role.
Even repayment restrictions dating back many months can be used as a reason for rejecting a loan. The consumer center warns that, for example, a discharge of residual debt has a long-term effect on your score and is therefore not necessarily an advantage.
Credit cards have a high influence on your creditworthiness
A wallet with many credit cards is a sign of your solvency. But Schufa views this circumstance differently and classifies more than one credit card as unstable. This means that if you apply for a loan, the fat wallet can fall on your feet and lead to rejection. When you request your next free Schufa report, check the credit card and current accounts section extensively.
Cancellation of unneeded cards and accounts immediately raises your score and makes a solvent and trustworthy impression on companies that ask you for financing or with whom you want to sign a leasing contract. Only cards that you carry on credit basis will not be registered. But these are rather unsuitable in practical use, even if the card issuer often says otherwise and compares the credit card without high embossing with a classic Visa or MasterCard.
Separation of cards that are not needed is recommended and excludes the possibility of doubt in the desired credit. Since credit card data is deleted immediately after cancellation, you should check the process to delete Schufa entries and be aware of the removal of this information occurred.
Corrections of erroneous entries in the Schufa
The fact is that undisputed claims and false data must be deleted by you. But do not assume that the employees of the Schutzgemeinschaft zur Kreditsicherung will delete all Schufa entries without being asked to do so. Months often pass after the expiry of the deadline until a discharge of residual debt or a repaid loan is removed from the overview and no longer appears in the self-disclosure.
If you want to apply for credit during this period, the undeleted entry as an outstanding debt can become an obstacle. Equally risky are condition inquiries, which are reported by the bank as a credit inquiry and are entered accordingly by the Schufa. Keep in mind that not every creditor automatically issues a notification when a debt has been settled.
The credit agency can only implement the information that is reported to it. Since you cannot rely on the creditor or on the automatic deletion of Schufa entries, report settled debts immediately and also make sure that the deadlines for deleting Schufa entries are met.
Whether residual debt discharge or default – no entry remains permanently in the Schufa. Since the deadlines for deletion vary, you should keep track of your data and take every 12 months to view your Schufa information. Schufa entries delete with a written request or a personal call.