How do I find out the contents of a credit report?

Each time Valitive provides a credit report on you, you will receive a written notice of the information, reviews, and advice contained in the information. The notice also contains information about who conducts the credit information business, the purposes of the processing, the possibility of correction, and who has requested the credit information.

You do not need to request a copy yourself, we send it out automatically by post free of charge.

Source: Datainspektionen

How does Valitive’s scoring work?

Valitive’s scoring shows a person’s credit rating with a scale from 0 to 100. The higher the value of the score, the more creditworthy the person is considered to be. The scoring is based on a number of different variables found in Valitive’s credit information database, such as income information, payment remark, debt balance, type of housing, etc. It is the combination of this information that leads to the final score. Some tasks weigh heavier than others. If there is a recent payment remark in combination with a debt balance, having a high income will not improve your score.

Can I delete my data from the credit report?

You cannot request that your information be deleted from the credit information database. According to the Credit Information Act, credit information companies have support for processing personal data without the data subject’s consent in their credit information activities.

Why was my loan or credit application denied?

The lender (e.g. the company, the bank, the employer, the landlord, or the car dealer) usually bases the decision on a number of criteria such as income, any remarks, and debts or credits. Valitive cannot answer any questions in regard to why an application has been denied. If you want more information about why you have not been granted credit, we, suggest that you contact the company where you applied for credit.

How or when do I get rid of a payment remark?

Individual cases apply to private debts to individuals or companies. You may have received an invoice that you have not paid, which after a while is sent to Debt Collection and finally to the Swedish Enforcement Agency, Kronofogden. This includes credit card debt, bank loans, and rental debt.

If you receive a letter from Kronofogden called “application for a payment order”, it does not mean that you have received a payment remark. An application for a payment order gives the customer one last chance to pay off the entire debt. If it is not paid on time, however, the enforcement agency determines a ruling and that is when a payment remark is registered with the credit information companies.

A payment remark is registered for 3 years.

If, on the other hand, it is a matter of debt restructuring, the payment remark remains for 5 years.

At what point do you get a payment remark?

A payment remark is registered with the credit information companies when Kronofogden makes a decision regarding an unpaid debt. A payment order, which must be paid within a certain time, is first sent to the customer. If the debt is paid and registered with Kronofogden before the due date, the debt is not registered as a payment remark. If it is not paid, you will receive a payment remark that is registered in your credit report for 3 years.

The consequences of a payment remark can, among other things, lead to you not being able to:

  • Borrow money from banks and credit unions
  • Buy on installment or invoice
  • Get a lease on a home
  • Get a phone subscription
  • Apply for a credit card

What does the secrecy rule at Kronofogden, the Swedish Enforcement Agency, mean?

A single claim from the state or municipality (so-called A-cases) can be classified if the debt is paid before Kronofogden, the Swedish Enforcement Agency, decides to take action in the case. The remark is then also deleted in the credit information register. Confidentiality applies provided that there has been no case with Kronofogden for the past two years. Confidentiality is broken if a new case is received within two years.

How do I remove an incorrect payment remark or correct other information?

If you believe that the information in the credit report is incorrect, you can contact Valitive’s investigation department via e-mail info@valitive.com. Attach the documentation that proves the information you want to change.

In order to assess whether a statement is incorrect or misleading, you must start at the time when the remark or information was added. We start from the Data Inspectorate’s instructions when deciding whether a piece of information is incorrect or misleading.

To find out more about when a payment remark is considered misleading, we refer to Datainspektionen’s website www.datainspektionen.se

How often is the information in the credit report updated?

Valitive updates the information continuously, so the credit report always contains the latest information we have on you.

Who is responsible when the Credit Information Act is not complied with?

The responsibility for compliance with the Credit Information Act lies with the credit information company.

For example, they are responsible for ensuring that the person to whom the company provides credit information has a legitimate need for the information. Certain provisions of the Credit Information Act are considered so important that it is punishable not to comply with them. This applies, for example, if someone conducts credit information activities without being entitled to it or if someone discloses personal information without there being any legitimate need. The person responsible can then be sentenced to a fine or imprisonment.

Source: Datainspektionen

How long does Valitive save data?

Credit Reporting Information

The personal data may not be stored for a longer period than is necessary for the purposes for which the personal data is processed. Information on a persons’ non-payment of debts will be deleted after three years.

Market information

A basic requirement in the Personal Data Act is that personal data must not be retained for a longer period than is necessary with regard to the purpose of the data processing. We, therefore, do not save orders, results, or criteria any longer than necessary. We update all our data daily. If you are not included in the deliveries from our sources, you will also disappear from our database.

What type of data does Valitive collect?

Credit Reporting Information

We collect information from trusted sources, such as various authorities and certain companies. These are, for example, income information from the Swedish Tax Agency, payment remarks, and debt balance from the Swedish Enforcement Agency, Kronofogden.

Market information

We collect phone numbers from all of Sweden’s operators. Name and address information from the Swedish Tax Agency is then added to the phone record. If necessary, data from Lantmäteriet, the Swedish Transport Agency, and SN-PAC are also added. All data we process is updated daily and then cleared of people who have chosen to delete their data. Company data is retrieved directly from the Swedish Companies Registration Office.

How does Valitive data?

We use the latest technology and our servers are hosted by Amazon’s cloud solution. Data is distributed via secure, encrypted channels and our servers are located in Stockholm, Sweden and Frankfurt, Germany.

What is meant by “personal information”?

Personal information is any kind of information that can be directly or indirectly attributed to a living person. This includes name, personal identification number, address, e-mail address, and telephone number. It also applies to, booking numbers and encrypted information and various types of electronic identities, such as IP numbers, if they can be linked to a person.

What is the NIX register?

The NIX Register is a service that makes it possible for people to easily inform sellers and marketers that they do not want telephone calls for sales, marketing, or fundraising purposes.

You can find their services at nixtelefon.org

When can a credit report be disclosed?

Anyone who requests a credit report on someone else needs to have a legitimate need for it. Most likely, this means the person or company is about to enter into a credit agreement with you, or that they have another legitimate reason to make a financial risk assessment regarding you. A landlord may have a legitimate need for a credit report if you are renting a home. Another case may be if an employer intends to employ you in a higher position which also entails financial responsibility, for example as the company’s CFO

How do I request a register extract of myself?

You have the right to order a register extract, containing your information, from a credit information company free of charge once a year. The register extract shows what information we on you in our database, such as personal information, addresses, telephone numbers, income information, payment remarks, debt balance, credit status, etc.

Click here to learn more >

Who ran a credit report on me?

The information copy you have received shows who ran your credit. It is always the creditor (eg the company, the bank, the employer, the landlord, the car rental company) who decides whether credit should be granted or not. Valitive has no say in the matter.

The purpose of a credit report is partly to protect the creditor against risk, and partly to protect the individual by reducing the risk of over-indebtedness.

What is a credit report?

A credit report is a summary of your financial position. The credit information is often used as a basis for decisions in connection with applying for credit or loans. Also at other times, such as when you apply for a home or shop online against an invoice, a credit report is used as a basis for the decision. What appears from a credit report is, for example

  • Name and address
  • General information (marital status, population register and historical address)
  • Income (taxed income for the past two years)
  • Property holdings
  • Payment remarks
  • Debt balance with Kronofogden

How do I block my personal identity number?

If you have been the victim of fraud or identity theft, you can block your personal identity number, free of charge. You cannot place a block as a preventative caution.  By blocking your personal identity number, you can prevent further fraudulent activities. Learn more here >

Can I block my data from your marketing database?

As a private person, you own your data and can choose to block it for marketing purposes.