Act CXXII. of 2011 on the Central Credit Information System (CCIS Act) contains the legal conditions for the transfer data to the CCIS.
When you taking a loan from the Bank, the Bank is obliged to forward the data(s) to the CCIS which is related to the loan within five working days. If there is any change in the transmitted data(s), the affected data(s) must also be transmitted to the CCIS within five working days.
Based on section 11§ (1) of the CCIS Act the bank transfers to the CCIS the data(s) about the natural persons, who do not fulfill their contractual obligations in such a way that:
- the amount of their overdue and unpaid debts exceeds the amount of the minimum monthly wage in force at the time of delay, and
- the amount days of dept is outstanding for more than 90 days
Based on the 15§ (3) section of the CCIS Act, 30 days before planned the data transfer, the K&H Bank send a warning message to the debtor, due to she or he has an overdue debt, and her/his data will be entered in the KHR register, if the debtor does’nt settle in time the existing debt.