Credit Register

Estonian Credit Register was established by Estonian banks in 2001 and it is administered by Creditinfo; it contains delayed payments of companies and private persons. The register was created with the aim to protect companies from chronic debtors and to improve people’s payment discipline.

The register reflects information about the date the debts were incurred and settled, the range of amount and the origin.  Information about payment defaults comes from the members of the Credit Register or other creditors.  Data regarding payment defaults is stored and is visible in the database for as long as 7 years since the debt was settled.

A payment default is a violation of the debtor’s monetary obligation (failure to perform or improper performance of the obligation, including delays in execution) which satisfies the following conditions:

• The infringement has lasted more than forty-five (45) days after the date of the financial obligation, i.e. the day following the payment date;
• The amount shall be at least thirty (30) Euros, which may include both a main claim and/or collateral claim for the financial undertaking;
• The arrears underlying the payment default must be true, verified and executable.