Simple, quick and hassle-free
We live in a world packed with attractive products and services. Thanks to
modern media, we can shop 24 hours a day, take trips with our credit cards,
lease cars and pay our bills by bank transfer. We buy what we need and indulge
in the things that make our lives a bit more enjoyable. If we don't have enough
cash for a particular purchase, we simply use trouble-free financing options.
And it all goes quickly, securely and smoothly – thanks to SCHUFA.
Virtually all modern purchases involve some form of credit and call for quick,
reliable decisions and trust between the two partners. That's what SCHUFA
provides with its services. It simplifies and speeds up business decision-making
with targeted, relevant information that brings partners to the table with the
greatest amount of reliability.
That benefits everyone. Sellers, buyers – and that means you,
too.
You benefit from SCHUFA every day
Haven't we all wondered how you can buy products by mail order and receive
them the next day without paying a dime in advance? Instead, you can wait up
to fourteen days to transfer the money.
Many retailers partner with SCHUFA. When these companies request a credit
report from SCHUFA, the information they get – in 93 percent of all cases –
states that your report has only positive entries. Thanks to this report, you can
enjoy your new merchandise now and pay later.
Think about your latest cellular phone calling plan: You signed a several-yearlong
contract, and immediately received an expensive mobile phone – free of
charge! Telecommunications companies also send requests to SCHUFA before
signing a contract. It's such a fast, hassle-free process that you can usually start
calling within only a few minutes.
Or are you moving? To another city. Where you need a new electricity provider.
And while you're at it, you also want to switch banks. Neither of them knows
you. But they still gladly welcome you as a new customer! Again, SCHUFA had
nothing but good things to say about you.
Everyone benefits from SCHUFA. The economy as a whole and every
individual.
The give-and-take principle
Many believe: "SCHUFA only has information about people who've got bad
credit." The exact opposite is true: For about 93 percent of the people, we only
have "positive" entries stating, for example, that you
• Already own a credit card and have thus earned the trust of a credit card
provider
• Have taken out loans and paid them back on time
• Buy products by mail order or online using a "bill me later" option
By the way, we don't know what you look like, what job you have, how much
you earn or have inherited from your grandmother. We only have information
about how well you discharge your obligations and your credit history.
No other information provider helps the economy along mainly by providing
positive information about consumers! We keep businesses going with 384
million records on 63 million people – essentially everyone of legal age in
Germany.
Most of the information comes from our 4,500 partners, including banks,
leasing companies, telecommunications providers, mail-order firms, retailers
and utilities. We also receive information from public sources such as the local
courts.
SCHUFA operates on a principle of give and take: Our partners supply us with
data and request information or estimates about the economic risk of a
particular transaction. To become a SCHUFA partner, companies have to satisfy
numerous requirements – and we check them very closely!
We deliver transparency
Knowledge shouldn't be power. That means that we do not share your data
with unauthorized third parties or use it for marketing. Since it was established
in 1927, SCHUFA has upheld a high standard of responsibility with respect to
consumer data. We regularly meet with data protection officers from the state
and federal government.
Do you want to know what your SCHUFA report says, and who requested your
report for what reason? You have every right to do so! Like no other company,
SCHUFA will quickly provide you with all the data it has on file about you. To help
you, we've set up a consumer service center as well as many consumer service
points throughout Germany. We'd love to hear from you!
Contacting us is even faster and more convenient over the internet.
At www.meineSCHUFA.de, you can easily and conveniently find all the information
you need to request a credit report.
SCHUFA's pivotal role
in the economy
Every year, SCHUFA adds considerable value to our economy – several billion
euros, to be exact. We reduce risks for companies, cut their costs and help them
offer products and services at competitive rates. We also boost demand for products
by enabling consumers to finance purchases. Every day, SCHUFA receives
around 200,000 requests for information from companies. That is how we drive
the sales of products and services.
Our economy needs consumption: It's a key pillar of the business cycle, one that
protects and creates jobs. Since the late '50s, it's been impossible to imagine
doing business without fast access to consumer credit. At the end of the second
quarter of 2005, the total volume stood at some 233.9 billion euros. Thanks to
loans, many more people have been able to improve their standard of
living!
More guidance from
SCHUFA's Debt Compass
Most people feel that the cost of living keeps rising, while incomes are no longer
high enough to pay for large purchases or unexpected costs. So they take
out loans. Most consumers keep a close eye on their debt and pay their installments
on time. Still, the number of people with excessive debt continues to go
up.
Our Debt Compass – the scientifically supported study that has garnered considerable
attention in the public and the media – is a trustworthy guide in the
debate about excessive debt. The Debt Compass is our way of contributing to
the greater good by providing guidance for
• Tracking changes objectively
• Supporting research into root causes
• Creating a forum on prevention issues
Go to www.schulden-kompass.de for the latest Debt Compass.
Did you know?
• Schutzgemeinschaft für allgemeine Kredisicherung (Protective Association for
Sales Financing and Credit Security - SCHUFA) was founded in 1927 in Berlin.
• SCHUFA is a privately held company incorporated under private law.
• SCHUFA is not a "database of debtors". For around 93 percent of the people,
we only have "positive" entries showing that they have properly discharged
their payment obligations.
• Roughly 384 million records on some 63 million people help individuals and
businesses set up contracts quickly, reliably and without hassles.
• 4,500 partners request information from SCHUFA around 200,000 times
a day.
• In 2005, SCHUFA issued around 1 million personal credit reports to consumers.
Most of the reports were requested conveniently online.
• The www.meineSCHUFA.de portal for consumers was launched in November
2005. SCHUFA rolled out the portal in order to provide even more transparency.
Now, registered consumers can even view their personal information
right in the portal. The website also contains extensive information about
SCHUFA.
Schufa
Info Englisch
