What is a debt register? Who is in a debt register and how do you look up a debt register? Get the answers below in the following article and learn a lot more about the topic.
What is a debt register?
Et gældsregister er, som navnet antyder, et register over gæld hos en debitor.
In Denmark, there are two well-known debt registers; Experian, better known as RKI, and Debitorlisten, which is owned and operated by the debt collection company Collectia.
Previously, RKI was also called Ribers.
What are the consequences of being on a debt register?
If a debtor is listed in a debt register, anyone with paid access has the right to see if a debtor is listed in the register. The creditor can then use this information in their credit rating of the debtor. If the debtor is registered with a payment remark, it will typically affect the debtor negatively, which can result in a negative credit rating and credit score.
On the other hand, if the debtor is not listed in the debt register, it will affect the credit rating positively.
The consequences of being in a debt register can be significant, and it can, for example, mean that companies change their payment terms or do not want the debtor as a customer at all.
Similarly, few banks and mortgage lenders are willing to lend money to customers who are listed in one or more debt registers.
For example, there are around 200,000 people registered in RKI on an ongoing basis, with around 171,000 registered at the beginning of 2023. The number of people registered often depends on social and economic fluctuations.
Who can be registered in a debt register?
Both companies and individuals can be registered in a debt register.
A registration can be made when the debtor has received three written reminders with the correct 10-day notice and has not responded to them. The third reminder must clearly warn the debtor that a registration will occur.
It is not a requirement that the reminder letter has a reminder fee attached.
How long are you registered as a bad payer?
You are basically registered in a debt register until the day you choose to pay your debt. The payment must be made to the creditor or creditor's debt collection company/collection lawyer that has registered you in the debt register.
A registration in a debtor register is listed for a maximum of 5 years, after which the registration is deleted.
Please note that even if the entry in the debt register is deleted after 5 years, the debt is not deleted. This means that the debtor still owes the creditor the registered amount + any interest. This often requires that the debtor chooses to interrupt the limitation period, which many choose to do if the amount is of a certain size.
How do you look up a customer?
If you are a company and want to post in a debtor register, it is important that you have a recognizable purpose for the post.
Do you want to check if your customers are registered in the Debtor List? Then you can easily and quickly create a user at Qatchr.
