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What is credit information? From what sources is credit information collected?

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What is credit information? Collect credit information from what sources?

This article clearly explains what credit information is and where it is collected from. You will gain a better understanding of credit information sources, providing you with an overview of how credit information is built and used.

1. Credit information

Credit information is data, figures, and related facts of borrowers at participating organizations of credit information companies.

In addition, the provision of credit information services is the provision of credit information products by a credit information company to users based on the activities of collecting, processing and storing information. credit information of the credit information company as prescribed in Decree 58/2021/ND-CP.

(Pursuant to Clause 1 and Clause 2, Article 3 Decree 58/2021/ND-CP)

2. From what sources is credit information collected?

Pursuant to Clause 1, Article 18 Decree 58/2021/ND-CP, credit information is collected from the following sources:

- Organizations participate according to commitments and agreements to provide credit information.

- Other credit information companies as agreed with the credit information company.

- State agencies according to the provisions of law.

- Other legal sources of information as prescribed by law.

3. What credit information is collected?

Credit information collected includes:

- Identification information of the borrower and related persons of the borrower according to current legal regulations.

- Information about credit history, property rental, deferred payment purchases, installment payments, and pawning.

- Information about debt repayment history, amount due or not due, payment term, credit limit, debt group, debt sale, implementation of off-balance sheet commitments and rating results of the company. loan customers.

- Information about ensuring the performance of debt repayment obligations of borrowers.

- Other relevant information is guaranteed not to violate the legal rights of borrowers, excluding information about borrowers that is classified as state secrets.

Note: The credit information specified above does not include information on the use of risk provisions to handle risks for credit grants of credit institutions and foreign bank branches.

(Pursuant to Clause 2 and Clause 3, Article 18 Decree 58/2021/ND-CP)