1. Avoid Debts
  2. Payment Default Register

Payment Default Register

The payment default register managed by Creditinfo Estonia compiles information on the debts of individuals and companies, helping to make smart credit decisions and check the background of business partners. It is Estonia’s first and oldest register for debt-related data, established by banks in 2001. The register contains nearly 0.6 million payment defaults.

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View your payment defaults

Access your personal and company payment defaults on the My Creditinfo page.

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Entering Payment Defaults

As a company, you can register debts, increasing the likelihood of their recovery.

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What is a Payment Default?

A payment default occurs when an individual or a company fails to pay their bills or loans on time, and the creditor officially registers the debt in the payment default register. A debt is entered into the register if it remains unpaid for more than 45 days and the amount is at least 30 euros. This can be related to loans, leases, or invoice payments.

Once a payment default is recorded, it can make it more difficult to obtain new loans, leases, and other financial services, as banks and companies check this information before signing contracts. Even if the debt is paid, the information remains in the register:

  • For companies: No longer than 7 years after the payment default is settled.
  • For individuals: No longer than 5 years after the payment default is settled.
Read more about payment defaults

Why register payment defaults?

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Faster Debt Repayment

Before a payment default is published, a notice is sent to the debtor, after which an average of 39% of debtors pay their debt. Among published payment defaults:
26% pay their debt within 1 month.
47% pay their debt within 3 months.

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A Warning to Other Businesses

In Creditinfo environments, over 800,000 background checks on payment defaults are conducted every month to determine whether a company or individual has any outstanding debts. Major banks, telecom companies, and many other businesses also perform these checks.

Monitoring
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Supports Responsible Lending

The payment default register managed by Creditinfo Estonia compiles information on the debts of individuals and companies, helping to make smart credit decisions and serving as one of the inputs for building background information.

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How is the registration of payment defaults carried out?

The description below is a sample process that explains how a payment default is entered through e-credit information. The actual process may differ depending on the company’s choices and the method of entering the payment default.

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Entry of the Payment Default into the Register

The creditor registers the debt in the payment default register.

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Notification to the Debtor

The debtor is notified that the debt will be made public if it is not paid within a few days. After receiving the notice, 39% of debtors pay their debt.

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Reminder to the Creditor

A day before publication, a reminder is sent to the creditor to check the status of the debt. If the debt has been paid, the request for publication of the payment default is canceled.

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Publication of the Payment Default

If the debt is not paid, the payment default is made public.

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Retention of the Payment Default in the Register

Individuals: A resolved payment default is public for no longer than 5 years, and an active default is public for up to 15 years.
Companies: A resolved payment default is public for no longer than 7 years, while an active default remains public

Enter a payment default and increase your debt recovery opportunities!

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How much does it cost to enter payment defaults in e-Krediidiinfo in the Payment Default Register?

Entering payment orders via e-Krediidiinfo is free of charge. Prior to the publication of a payment default, a notice shall be sent to the debtor in case of payment failures entered through e-Krediidiinfo. The cost of sending each payment default notification by post is EUR 2.46 + VAT and by e-mail EUR 1.07 + VAT.

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How to View Company Debts?

Payment Default Register is an effective tool for checking a company’s credit history. Debts can be checked by e-Krediidiinfo Proff XL users.

It is also possible to obtain information through various reports, for example, a comprehensive report on a company’s payment defaults shows whether and how much the company has debts to the state or private companies.

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How to View Person’s Debts?

An individual can view their payment default information from My Creditinfo.

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Complaints Resolving Regarding Debts

We recommend at first to contact the creditor who entered the debt information. Changes in details of the default are only possible in cooperation with the creditor.

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