FAQ
Who are we and what do we do??
INFODEBIT CREDIT REPORT Credit History Bureau is a company that collects and stores information about individuals' credit histories, meaning how they manage their loans, other financial obligations, and debts. Infodebit is a private company, legally registered, and operates in accordance with Law No. 122/2008
What is the legal basis for data processing and storage?
Infodebit processes personal data to create and maintain credit histories, collecting this information from various sources such as banks or other financial institutions. This processing is carried out in accordance with data protection legislation, namely Law No. 133/2011, which ensures that data is processed and stored legally and securely. Infodebit processes personal data to create credit history reports, based on which financial institutions can decide whether or not to grant a loan. This entire process is regulated by strict laws that ensure the protection of personal information.
Who Can Access the Infodebit Credit History Bureau Database and Under What Conditions?
- Financial institutions and other entities that offer credit can access the database to verify the credit history of applicants;
- Local authorities: They can query the Infodebit database if they have a legal basis to do so;
- Credit history subjects: Individuals or legal entities can request their own credit history to verify the recorded information;
- Other legal entities with a legal basis: Entities with a legal basis for processing data can access the Infodebit database.
These provisions ensure that access to information in the Infodebit database is controlled and carried out only in accordance with regulations regarding the protection of personal data. [Law no. 122/2008]
What kind of information is in Infodebit and where does it come from?
The Credit History Bureau Infodebit collects various types of information to create credit histories:
- Personal and contact information: Name, surname, patronymic, date of birth, series and number of identification document, personal identification number (IDNP), domicile, postal address, email address, contact phone numbers.
- Accurate and updated information about credits and payments made by a person: Banks, financial institutions, and leasing companies are required to transmit these data.
- Data about income and assets: Infodebit collects information related to a person's income, salaries, social benefits, employment, identification documents, real estate, and personal property. These data come from the Public Services Agency and the State Tax Service.
- Public data related to legal entities, as well as other information necessary for the crediting process: These data are sourced from the Public Services Agency.
- Information about enforceable titles under execution: These data are extracted from the Registry of the National Union of Judicial Executors.
This information is transmitted to Infodebit according to the deadlines established by Law no. 122/2008, to ensure that all data are updated and accurate. All this information helps assess credit risk and make informed financial decisions.
How can I find out what data is registered about me in Infodebit, and how do I submit a request?
To find out what data is recorded about you in Infodebit, you can check your credit history. The request to access this information can be submitted either in person at the Infodebit office (Chișinău, Calea Ieșilor Street 10b, 5th floor) or online at www.infodebit.md.
What should I do if my Credit Report contains incorrect data?
If your Credit Report contains incorrect data, you have the right to dispute these inaccuracies, either partially or entirely. You can submit a request to the Credit History Bureau where your report is stored, asking for the incorrect data to be modified or supplemented. The Bureau will review your request and, if justified, will correct the information in the report.
[Law no. 122/2008]
The dispute process is straightforward:
- Submit a written request to the Credit History Bureau, specifying the data you believe is incorrect;
- The Bureau will verify the information and decide whether the modification is justified;
- If your request is approved, the Bureau will update the report and inform you of the changes made.
When can data recorded at the Infodebit Credit History Bureau be removed?
Data recorded at the Infodebit Credit History Bureau is not deleted.
However, most financial institutions do not consider data older than 5 years. This is a common practice aimed at accurately reflecting a person's financial history, allowing them to improve their credit score over time, and providing a chance for financial education. Therefore, even though the information remains recorded, it no longer negatively impacts credit decisions after this period.
Thus, currently, data is not deleted automatically, and decisions regarding their removal after a certain period are still under official discussion.
Is my credit score affected if I am a co-borrower on a loan?
Your credit score is not directly affected if you are a co-borrower on a loan, but your debt-to-income ratio may increase. If the primary borrower makes timely payments, you can avoid a negative impact on your credit score. However, it's essential to monitor the loan and ensure that payments are made properly to maintain a favorable credit score and facilitate access to future financing.
How does my credit history influence the interest rate?
Your credit history has a direct impact on the interest rate you can obtain for a loan. If you have a good credit history with timely payments and no delinquencies, creditors will view you as a reliable borrower and will typically offer or allow you to negotiate a lower interest rate.
How can I use my credit report to obtain a loan or mortgage?
To assess your financial situation and reduce the risk of being denied, it's recommended to check your credit history before applying for a mortgage or loan. This way, you'll have a clearer view of your debt levels and current financial status. After this review, analyze market offers and, when applying, include your complete credit history. This will increase your chances of approval and strengthen the lender's confidence.
Additionally, it's important to know that the more credit applications you make, the lower your chances of approval. Therefore, it's advisable to carefully review offers from banks or other financial institutions, use the credit calculator on www.dae.md to find the most suitable offer, and then submit your application to avoid repeated rejections.
What happens to my credit report if I move abroad?
If you move abroad, your credit report from Moldova will not change and will remain unchanged, except if you have active commitments with delays, which could affect the information in your credit history and your credit score. Additionally, even if you are overseas, you can request your credit report through video authentication, allowing you to stay informed and actively monitor your credit situation regardless of your location.
How can I improve my credit history
To improve your credit history, it is important to pay off any outstanding loans as quickly as possible and avoid taking on loans that you cannot repay. We recommend using the credit history recycling service from Gin Credit to boost your credit score. After utilizing this service, it is essential to make monthly payments on time and be patient, as improving your credit history does not happen overnight and requires financial discipline.
What negatively impacts my credit score
Several factors can negatively impact your credit score, with the most significant being active loans with payment delays, the presence of unpaid debts, or instances of foreclosure. These factors reflect your ability to manage debt and your overall financial behavior.
How to pay for Infodebit services?
Pay online
- directly to infodebit.md, using VISA or Mastercard bank cards
- via MPay - State Electronic Payments Service - click here
- via RunPay - click here
Cash payment
- through BPay, MPay, PayMaster, and QIWI terminals
- in post offices of Moldova
Payment will be made to the Infodebit settlement account with the obligatory indication of the applicant's numerical code and phone number.