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non-US perspective: In the Netherlands we have the "Burea of Credit Registration" which registers most debts, storing: - amount - start date - exp
by merijnv 15y ago
non-US perspective:
In the Netherlands we have the "Burea of Credit Registration" which registers most debts, storing:
- amount
- start date
- expected end date
- actual end date
- type of credit
- miscellaneous notes
If payments are missed or other difficulties develop the lender can contact the Bureau, which notes this information on file. This information is stored for up to 5 years after final payment.
Note that this only tracks loans to individuals with a duration longer than 3 months and over a certain minimum amount.
The basic idea is that everyone who has not failed to repay a loan is considered creditworthy, actual loans are based on the above info, income (plus certainty of employment) and collateral.
- notJim 15y agoThanks, that sounds basically the same as the credit reporting agencies here in the US (except maybe the thing you're talking about is government-run?)
- merijnv 15y agoWell, my impression was that in the US you need to establish some kind of credit history to get a good credit score. Whereas here it is normal for people with no credit history to get loans and mortgages.