Glossary

In Czech Republic are several registers used by different subjects. Registers are information systems which store information of unpaid claims. Some of them are part of international data base. Most of them are available on –line.

Trustworthy registers are Bank register of client information (CBCB - Czech Banking Credit Bureau), Non bank register (LLCB – Leasing & Loan Credit Bureau) and Solus.

By creating the debt the debtor looses his good credit.Collecting agency only manages the claims. The creditor reports the claim to the register and can take it off.

Bank registers a important subject, true which banks collect information about the value and trustworthiness of there clients.

This information protects bank from bad client and value a good client. It also protects the clients which fulfill his obligations and improves the trust in the Czech financial market.

Register records existing contracts, amount of loans and payments, payment history. Register also has information if you currently apply for the loan. The information is kept for 4 years. More information on www.cbcb.cz

Non bank register secures information between lenders about the value and payment moral of the clients. Members are mostly companies in area of leasing and payment sales.

Register helps to improve the relationship between lender and borrower. It helps good clients to better access financial help. More information on www.llcb.cz

SOLUS is a association of people, who’s goal is prevent over debt of clients, prevent amount of debtors and increase potential financial losses of lenders.

SOLUS creates two registers of client information having history of problems with SOLUS members. In register “FO” are consumers, in register “IC are investors.

Registers could be accessed on-line by members companies. SOLUS members are different financial companies. Information on www.solus.cz

Court can in certain cases obtain payment order without request of plaintiff or defendant.

In payment order the defendant should pay the claim and cost of the process within 15 days of delivery or appeal in the same time.

Since 1.7.2008 it could be ordered electronically. It decreases the amount of cost by 50%.You can find information of existing court processes on the web pages of Ministry of Justice. By the small claims there is no possibility of appeal. 

It means that the lender transfer the claim to another lender, with all demands. New lender carries all the risk.

It is financial service of buying claims (usually payable within 30 to 90days) before their expiration. Client has immediately available 60 to 80% of the amount and is responsible for it. Usually there could be applied so called regress which allows to transfer the claim to the original lender.