Considering the provisions of the Emergency Ordinance no. 37/2020 on granting facilities for loans granted by credit institutions and non-bank financial institutions to certain categories of debtors, the Participants in the Credit Bureau System will properly record the information on loans granted to individuals who are accepted by creditors suspension of obligations to pay due installments.
In this regard, for all loans registered with the Credit Bureau and suspended from payment, the creditors will register the comment “Suspension of payment”. Subsequently, during the period of suspension of payment, the creditors will submit at each maturity the information regarding the fact that the installment and the amount paid are zero. The credit score will not be affected by the "Suspension of payment" comment, as it does not affect the calculation algorithm. Suspension of payment is information that is part of the category "Data regarding events that occur during loan product", which can be processed in the Credit Bureau System based on the legitimate interest and for which the involved persons have been previous informed according to art. 13 and 14 of the General Regulation on Data Protection. The registration of the suspension of payment is necessary both to correctly reflect the loan situation during the period of suspension of payment, and to continue carrying out a responsible lending activity under the conditions of protection, to facilitate access to loan and to prevent excessive indebtedness of concerned person, to comply to the legal framework regarding the assessment of creditworthiness and to reduce credit risk, as well as to prevent the use of the financial-banking system for carry out activities contrary to the law.