What data is available in the debt exchange? See

Debt sale is one of the methods that creditors use to recover their capital faster. A debt that is not paid on time is therefore often listed on a debt exchange, and information about the debtor is made public. This is a big problem for the debtor, because his or her data is available on the Internet and can be accessed by anyone - often also by typing his or her name into Google. Find out how to protect yourself from this.

Internet debt exchanges are becoming more and more popular - there are more and more debts for sale there. These are usually debts which are not paid off by the debtor. The sale can take place on an Internet platform such as a debt exchange. This is the solution which is most feared by people in debt. Not without reason, because the information about the debt and the debtor can cause a lot of problems for him.

Making data on debts available for sale is legal

According to the article 4 of the act on sharing business information and exchanging business data of 9 April 2010. - public disclosure of data on debt for sale is legal. The debt exchange may include data such as:

• first and last name of the debtor,
• city of residence with postal code and street (without specifying the exact address),
• amount of debt,
• the stage at which the debt is being recovered,
• security on the debt (e.g. mortgage),
• documentation possessed by the creditor - useful e.g. for debt enforcement.

It is worth remembering that some of them are generally available. These include the name and surname of the debtor and the address of residence, as well as the amount of debt. Other data is usually made available only after logging in by the buyer. However, already the information about the debt available to everyone can undermine the credibility of a person in debt in the eyes of various institutions, but also in the eyes of the family, friends or employer.

How to protect yourself from being listed on a debt exchange?

Every debt exchange on the web is a public site. This means that information about debts can be found quite easily - sometimes even just by typing a person's name into Google. That's why putting your debt up for sale publicly can cause a lot of discomfort for the debtor. It's not uncommon for outsiders, such as relatives, neighbours or work colleagues, to learn about your debts. Fortunately, however, listing a debt can be avoided, and in a very simple manner.

The most common way to sell a debt on a debt exchange is when a person in debt doesn't cooperate with the creditor - they avoid contact, don't respond to messages and don't undertake to repay the debt. By cooperating with the creditor, you most often have a chance to agree on convenient repayment terms and a low installment. If you don't, your debt may become public.

Your debt may end up on one of the Internet debt exchanges - there are many of them. They are run, for example, by companies that manage debt portfolios. One of them, for example, is the Debt Market. If your debt has found its way there, contact ULTIMO, which runs this particular debt exchange, as soon as possible. Agree on the terms of the settlement and then comply with them. Then the information about the debt will no longer be publicly visible.

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