The Central Credit Register collects and discloses information on the type of negotiation associated with each credit agreement. The type of negotiation identifies whether the credit agreement was subject to renegotiation to avoid default or due to default in more recent months. If this is not the case, the type of negotiation shown for the credit agreement is “General”, which includes automatic renewal, commercial renegotiation (where the customer proactively seeks to obtain better contractual terms) or renegotiation to avoid default or due to default, after six or 12 months respectively.

The classification “Renegotiation to avoid default or due to default” could have an impact on your ability to obtain credit, as this type of negotiation arises from a situation of the customer preventing or settling arrears. However, where the repayment schedule is being met, associated credit amounts are not considered as in default.