A negative credit history is formed if a borrower delays payments for 90 days or more.
During the meeting, the deputies discussed amendments to the Law "On the Exchange of Credit Information," which include a proposal to shorten the retention periods for credit data:
- for positive information — from seven to five years;
- for negative information — from five to three years.
It is also stipulated that negative data on loans amounting to less than 10 thousand soms will be retained for only one year.
The bill was approved by the deputies in the first reading.
