Positive Credit Register brings changes to the way consumers’ creditworthiness is assessed

The Positive Credit Register has been launched and the register's e-service opened to consumers on 1 April 2024. The aim of the register is to combat the over-indebtedness of households.

From now on, the creditor must check an applicant’s information in the Positive Credit Register (vero.fi) as part of the assessment of the applicant’s creditworthiness. The Consumer Protection Act imposes an obligation on creditors to assess creditworthiness on the basis of sufficient credit register data and other information on the consumer’s income and other financial circumstances.

In future, the creditor must request a credit register extract from the Positive Credit Register to check the creditworthiness of the applicant. The extract contains, among other things, information on the credit and income of the credit applicant entered in the register.

Creditors have been able to submit information to the register since the beginning of February. The Positive Credit Register is maintained by the Finnish Tax Administration’s Income Register Unit.

Positive Credit Register includes information on credit and income

Creditors are obliged to report certain information on consumer credit to the Positive Credit Register. The register contains information on, for example, mortgages, car loans, consumer credit, credit cards, student loans and instalment loans, as well as information on changes to the credit, such as repayments and information on the end of the credit.

The register also contains information on payment delays if the payment of an instalment is overdue by more than 60 days and information if the credit is cancelled in full. No information on payment default entries is stored in the Positive Credit Register.

Income information comes to the Positive Credit Register from the Incomes Register.

Register helps to manage consumer finances

The e-service allows consumers to view the information stored in the register and check which creditors have requested information from the register, when and for what purpose. The register also shows what information has been provided to creditors.

If you wish, you can place a voluntary credit ban in the Positive Credit Register for an indefinite or fixed period.

Having information on your loans available in the register can help you monitor your financial standing, grasp the overall situation and manage your finances.

Read more

The Positive credit register is now open – lenders will start using the register’s data when making credit decisions (vero.fi)

Information for consumers on the Positive Credit Register (kkv.fi)