More specifically defined is payment default a breach of financial obligation by the debtor (failure to fulfill the obligation or improper fulfillment, including late payment) in the amount of at least 30 euros, which has lasted more than 45 days from the day of the financial obligation, i.e. from the day after the payment due date.

The debt underlying the payment default must be true, collectable, and controlled. The creditor who entered the data is responsible for the correctness of the data.

If it is a breach of a financial obligation, the fulfillment of which has been agreed in parts:

  • the 30-euro clause of payment default is considered fulfilled even if it is formed from all the parts of the obligation;
  • the above-mentioned 45-day term is counted from the day when the debt started;
  • each next part of the debt is added to the existing payment default on the day following the payment due date of the debt part depending on data updating routines.

After the payment default is published in the Payment Default Register, the amount of debt may fall below 30 euros, i.e. the end date is added to the payment default only when the debt is fully paid.

The payment default data is inserted and also updated by the creditors. Generally, the data is updated if necessary (the amount is increased or decreased, the payment default needs ending) according to the debt balance at least once a week.

Payment default is ended when the breach of the obligation is finished, including full payment of the debt. The end date is then the date of finish of breach of obligation.

Ended payment defaults are published in the register for 7 years in the case of companies and not longer than 5 years in the case of private individuals after the end date of the payment default.

If the payment default has not been ended, i.e. is in a valid status, it will be published as follows:

  • In the case of private individuals, generally 15 years, but the publication time can also be longer (if, for example, the claim is in enforcement proceedings and unpaid)
  • In the case of legal entities, valid payment defaults are always public.

It is important to know that if an agreement is made with the debtor to pay the payment default or the payment took place after publishing the debt, then the payment defaults are not deleted by agreement with the debtor. Canceling the publication of a payment default is possible if the debt information has not yet been published.