How can I lose my credit history?

How can I lose my credit history?

Credit information is not lost on the first forgotten invoice, nor can credit information be lost unknowingly. The default entry is recorded at the earliest two months after the due date, but often takes six months.

A payment default entry on an unpaid invoice is received if:


  • the court has given judgment
  • the bailiff has declared the debtor insolvent
  • the bailout has lasted more than 1.5 years without interruption.

Default payment can be obtained from a consumer credit if:

  • it has been overdue for more than 60 days and has been notified by the lender to the credit registrar.

Here’s how to create a payment default entry:

Thus, the payment default entry does not occur overnight. Here’s how to proceed with recovery and defaults:

Your invoice has a due date. It remains unpaid.

You will receive a payment reminder at the earliest two weeks after the due date of the invoice.

You will receive your 1st payment claim, or collection letter, four weeks after the due date of the invoice.

You will receive your 2nd claim for payment, or your second recovery letter, six weeks after the due date.

You will receive the challenge eight weeks after the due date of the invoice. The District Court will send you notice of the challenge, which you must respond to with an acknowledgment of receipt. If you do not react, you will receive a one-sided judgment from the District Court and a failure payment notice.

You will receive the judgment ten weeks after the due date of the invoice. This results in an entry in the credit register.

You will be taken out for 12 weeks from the due date of the invoice


If your property cannot be forfeited, you will receive a default payment on your credit history.

Remember that things are usually organized, especially when the thread is settled in time. It is certainly not advisable to let things go right up to the point of collection, but you should contact the biller or loan provider right from the start and agree on a new payment schedule and plan.

The insignificant nature of the payment default itself is a considerable complication to everyday life. In addition, recovery is costly: in addition to default interest, handling fees, court fees and costs are at their worst.

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