This is the SCHUFA website in plain language.

The full name of the SCHUFA company is:
SCHUFA Holding AG.

SCHUFA is an abbreviation for:
Protection association for general credit protection.

The full name of the SCHUFA company is:
SCHUFA Holding Aktien-Gesellschaft.
Holding is English and means:
Hold something together.
Here it means:
Several companies belong to SCHUFA.
SCHUFA is an important company.
It helps with questions about Credit worthiness of persons.

Credit means:
I borrow money from someone.
This person gave me a Credit given.
I have to pay the money back later.
Getting a loan also means:
I have with this person Debts.
Later I pay my Debts back.

The person can rely on me.
I pay back my debts.
This is called: credit-worthy.
Credit-worthy people can easily get a Credit.
You can't just get a loan from a bank.
Sellers also give credit.

One example:
A person wants to buy a television.
But the person doesn't want to pay for the TV all at once.
The person would like a Credit.

For example:
The person wants to use the television in Pay in installments.
The person wants to pay some money every month
until the TV is paid off.

Then the seller may want to know:
Did the person always pay all their bills in the past?
Can I rely on the person?
Or perhaps the person has Debts?
And can take on additional debt not pay back?
Now the seller can obtain information from SCHUFA.
SCHUFA has this information.

SCHUFA is an abbreviation for:
Shoetz-community ffor aGeneral credit protection.

SCHUFA means:
SCHUFA protects companies.
SCHUFA helps a company to make a decision:
Can someone buy something from the company?
Or does someone already have a lot of debt?
Then the company will probably get none Money from the person.
And the company decides:
The person may not buy anything from the company.
SCHUFA also protects people.
Nobody should have too many debts.
This is why people with debts none Credit more.

SCHUFA provides information to companies and people.
SCHUFA is a Information center.
The technical term for this is:
SCHUFA is a Information file.

This means:
The task of SCHUFA is to provide information.
This is why SCHUFA has a lot of information from people in Germany.
But the information is all about money.
SCHUFA provides information about this:
is someone credit-worthy?

Credit-worthiness means:
A company or a person can rely on me:
I pay back my debts.
That's why I get a loan.

Who receives information from Schufa?
Companies receive information from SCHUFA.
These companies sell or rent something.
So SCHUFA's customers are other companies.

Many companies advance money to buyers.
For example:
Someone buys something.
But the person only has to pay later.
Or the person may do something buy in installments.
In other words, you only pay part of the purchase price each month.
In this way, the person pays off the money slowly.
And the person must not pay for everything at once.
Then the person buys something on credit.

The companies want to know:
Can I give the person a loan?
And therefore asks the SCHUFA.
The information from Schufa helps you do business
between people and companies.

SCHUFA provides information to companies and people.
SCHUFA is a Information center.
The technical term for this is:
SCHUFA is a Information file.

This means:
The task of SCHUFA is to provide information.
This is why SCHUFA has a lot of information from people in Germany.
But the information is all about money.
SCHUFA provides information about this:
is someone credit-worthy?

Credit-worthiness means:
A company or a person can rely on me:
I pay back my debts.
That's why I get a loan.

Who receives information from Schufa?
Companies receive information from SCHUFA.
These companies sell or rent something.
So SCHUFA's customers are other companies.

Many companies advance money to buyers.
For example:
Someone buys something.
But the person only has to pay later.
Or the person may do something buy in installments.
In other words, you only pay part of the purchase price each month.
In this way, the person pays off the money slowly.
And the person must not pay for everything at once.
Then the person buys something on credit.

The companies want to know:
Can I give the person a loan?
And therefore asks the SCHUFA.
The information from Schufa helps you do business
between people and companies.

SCHUFA does not only provide information to companies.
SCHUFA must also tell everyone:
What information do we have about you?
This is stated in the Data Protection Act.
It is stated in Article 15 of the DdatasprotectionGround-vheoorder.
The abbreviation for this law is: DS-GVO.

You can order a copy of the information from SCHUFA here.
This information to you is free of charge.

Then you know:
What information has SCHUFA stored about you?

You must submit an application for this information.
First read the information sheet on the application.
Then fill out the form.
Then send the form to SCHUFA.
This is the application for free information.
You will then be sent the information.
You can download both here:

Schufa receives information
about the financial affairs of individuals.
This information is stored by Schufa.
But only for a certain time.
The time for saving is called:
Storage period.

There are regulations for a retention period.
Stay informed not forever with Schufa.
Schufa deletes information again.

For example:

• When someone pays their debts
• When the storage period is over

Storage periods for negative information

Negative-Information about a person
Negative means:
Something is not good.
Negative information means:
One piece of information is not good.
These are for example none good information about a person:

• When a person does not repay debts.
• If a person does not pay bills on time.

For example:
A salesperson has already
reminded of an invoice twice.
This is called:
A seller sends Reminders.
But the person still pays the bill not.

There are retention periods for various negative information.
All information has to do with money.
Find out more here:
How long does Schufa store the information?
So:
How long is a retention period?

The retention period for information on settlement accounts is:
3 years.

Maybe someone has a loan not repaid.
Or someone has not adhered to a purchase agreement.
Then Schufa calls it that:
Settlement account.

Schufa receives information on the settlement accounts.
For example:
If someone needs a loan not has paid back.

Schufa stores this information on the settlement account
for 3 years.
When someone has paid back a loan,
then the storage period begins.
And Schufa stores the information for 3 years.
Schufa then deletes the information again.

This is information about the settlement account:

• Documents about debts.
• Proof of payment of debts.

Schufa receives the information from banks.
Or from salespeople.
Schufa stores this information.

The retention period for information on residual debt discharge is:
6 months.

Residual debt discharge means:
Sometimes a person can pay his debts
not pay back.
Also not in many years.
Then people can be freed from their debts.
That means:
The debts are let-go.
A court decides on this.

Start of the residual debt discharge
First there is an announcement from the court:
Someone wants to be released from their remaining debt.
Schufa stores this information for 4 years.
Or as long as it takes the court to reach a decision.
This can also be shorter.
Schufa then deletes the information again.

Decision on the residual debt discharge
Then the court decides:
Someone has to pay the remaining debt not pay more.
That means: Residual debt discharge.
Schufa stores this information for 6 months.
Schufa then deletes the information again.

Why does Schufa store this information?
Schufa stores the information
on the residual debt discharge.
But not long.
Schufa now knows this information.
And maybe someone needs important information
shortly after the decision of the court.
Then this information is still available.

But Schufa deletes the information again.
Schufa deletes the information
6 months after the court's decision.
Then Schufa can none Provide more information
on the residual debt discharge.

The retention period for information on in-solvency is:
4 years.

Insolvency means:
A company or an individual can incur debts
not pay back more.
You could also say:
The company or person is insolvent.

A court must know about this.
If the court has received the information,
then the Procedure to.
Procedure means:
The court examines, for example:

• What else does the person have?
• What can you sell?
• Who gets money from the sellers?
• And much more.

Schufa receives the information from the court:
The insolvency proceedings have begun.
Schufa stores this information for 4 years.

The retention period for information on local court data:
3 years.

Creditor is the name of the person,
who lends money to someone.
A creditor gets his money back.

Example of information on local court data:
Someone has a lot of debt.
The creditors know not:
Will I get my money back?

The creditor therefore asks the local court.
But the person with debts wants nothing say.
Or the local court makes a finding:
The person can pay the debt not pay back.

Task of the local court in case of very many debts
The local court can release someone from a great many debts.
The district court states:
This person can never repay his debts.
The local court decides on the debts first.
Schufa then receives this information.
The local court must also store this information.
This is written in a law.
Schufa stores this information for just as long as the local court.
Schufa stores this information for 3 years.
Schufa then deletes this information again.

Delete information earlier
Perhaps the person will pay back the debt after all.
But the 3 years are not yet um.
Then the person can write to the local court.
The local court will delete the information sooner.
And the local court informs Schufa.
Schufa will then delete the information sooner.
So before the end of the storage period.

Storage periods for positive information:

There are also good information
about the financial affairs of individuals.
Good information is called:
Positive data.

This is positive information, for example:
A person has borrowed money.
The person has paid back the money.
Or the person just pays the money back.
That means:
The person adheres to the agreements.
This information is good information.

Schufa also receives good information.
But Schufa deletes good information again.
Schufa stores the good information
only for a certain period of time.
When the time is up,
then Schufa deletes the positive data.

The retention period for information on loans is:
3 years.

Credit means:
I borrow money from someone.
They also say:
This person gave me a Credit given.
I have to pay the money back later.
Perhaps a person has received a loan.
Schufa then receives this information.
Schufa stores
information on loans for individuals.
When the person has repaid the loan,
then the Schufa receives information.
Now the storage period begins.
That means:
Schufa retains
this information for 3 years.
Schufa then deletes the information again.

What does Schufa need this information for?
Schufa knows:
How does a person handle money?
Is the person good with money?
Can you rely on the person?

That means:
Sellers and banks receive the information from Schufa:
A person pays back a loan well.

The retention period for requests:
1 year.

Schufa works together with partners.
The partners are called: Contract partner.
Contract partners of Schufa are for example:
Banks and sellers.

The contractual partners receive information
from the Schufa.
For example:
Perhaps a bank wants to give a person a loan.
Then the bank first wants information
about the financial affairs of the person.
This is called:
Information about the creditworthiness of the person.
That's why the bank asks Schufa.
The question from the bank to Schufa is called:
One Request.

Information about inquiries
Schufa makes a note:
Who wants information from Schufa?
And for which person?
Schufa stores the information about requests
for 12 months.
So for 1 year.

You can find this out from Schufa:

• When did someone inquire about my money matters?
• Who asked about my creditworthiness?

Why does Schufa store this information?
Perhaps you would like to know for yourself:
What has Schufa told banks and vendors about me?
Then you can find out for yourself from Schufa.
And you know exactly what to do.
So you can keep an overview.
And you can better protect your personal data.

Do you have any questions?

Then you can call SCHUFA.

This is the telephone number:

0611 - 92 78 0

Office hours:

You can reach someone from Schufa

every working day from 8:00 a.m. - 7:00 p.m.

That means:

from Monday - Friday.

Or you can write a letter.

Address:

SCHUFA Private Clients ServiceCenter

P.O. Box 103 441

50 474 Cologne

Do you have any questions?

Then you can call SCHUFA.

This is the telephone number:

0611 - 92 78 0

Office hours:

You can reach someone from Schufa

every working day from 8:00 a.m. - 7:00 p.m.

That means:

from Monday - Friday.

Or you can write a letter.

Address:

SCHUFA Private Clients ServiceCenter

P.O. Box 103 441

50 474 Cologne

Bo-ni-tity

Another word for Bo-ni-tity is:
Credit-worthiness.
If a person is creditworthy,
then the person may borrow money.
They also say:
The person can use a Credit get.
But the person has to pay back the money for the loan.
The Schufa checks:
Can this person pay back the money?
For example:
If the person earns enough money.
Then she can get a loan.

Buy Now Pay Later

This is English.
That's how you pronounce it:
Bai Nau - Pey Leyter.
That means in German:
Buy now.
But don't pay until later.

For example:
Someone has ordered clothes on the Internet.
The person receives the clothing.
And she gets the bill for the clothes.
The person must pay the invoice not pay immediately.

Maybe the person wants to keep the clothes.
The person then has 14 days to pay.
So 2 weeks.

If the person wants the clothing not keep?
For example, because the clothing not fits.
The person can then send the clothes back.
The retailer gets the clothes back.
And the person must nothing pay.

EU

EU is an abbreviation.
The abbreviation means:
European Union.
Many countries are members of the EU.
Germany is also a member of the EU.
The countries can make decisions together.
And make laws.

EU Directive

This is the name of the laws of the European Union.
The EU has made these laws.
You could also say:
Directives are targets set by the EU.
The EU countries must adhere to these guidelines.
Then you belong to the EU.
Germany is also part of the EU.
Germany must therefore adhere to the guidelines.

Money laundering

They also say:
There is dirty money or black money.
That means:
Someone is working illegally.
The person has the work not registered.
And also pays no taxes.
This is forbidden.

Or someone is criminally quick.
That means:
The person earns money with criminal business.
For example:
The person sells drugs.
This is also prohibited.

The person receives cash money for the drugs.
The person then pays the cash into an account.
Now nobody knows anymore:
Where does the money come from?
This is called Money laundering.

Money laundering prevention

It means:
All people should register their work.
Nobody should earn money with forbidden things.

Laws should prevent money laundering.
For example, the laws state:
Rules for banks.
That means:
Money laundering prevention for example:
At a bank.

Terms and conditions

A condition is a requirement for something.
You could also say:
A prerequisite or a rule.

For example:
Someone wants a loan for a house.
But the bank has this condition:
The bank pays not the whole house.
The person must pay part of the money themselves.
If the person pays the money,
then she gets the loan from the bank.
This means:
The down payment for the house is the condition for the loan.

Credit

For example, someone wants to buy a house.
But this person has not enough money.
The person therefore borrows money from a bank.
This is called:
The bank provides a Credit.

But that means:
The person has Debts at the bank.
And has to pay the money back to the bank

Online loan

Online means:
On the Internet.

Credit means:
A bank lends money to a person.

So online credit means:
Get a loan on the Internet.

Forecast

A prog-no-se is a prediction.
It means:
How something might become.

SCHUFA makes predictions.
The predictions from SCHUFA have to do with money.

For example:
Whether someone will pay their debts.

How does SCHUFA know that?

The SCHUFA checks for this:
How has it been so far?
Did the person previously pay the debt?

Perhaps the person has always paid back the debt.
Then SCHUFA says:
The person is probably also paying back new debts.

Maybe the person has the debt nott repaid.
Then SCHUFA says:
The person is probably also paying new debts not back.

SCHUFA

The abbreviation means:
Shoetz community
Ffor
All-general credit protection.

Score

Score is an English word.
That's how you pronounce it:
Skohr.

A score is a number of points.

SCHUFA score

The SCHUFA score is also a score.
There are points between 1 and 100.
Many points means:
Someone pays the bills on time.

Few points means:
Someone often pays a bill not.

How does SCHUFA know that?

SCHUFA receives information from merchants.

For example:
Does a person pay the bills on time?
If a person pays the bills not?
The SCHUFA then calculates:
Can the person pay the bills?
Or are there difficulties with payment?

For example, for orders:
The person orders something.

SCHUFA then tells the merchant the person's score.
The retailer then knows:

You can trust this person.
The retailer will definitely get the money from the person.

Or

This person cannot be trusted.
This person usually also pays bills not.

Debts

A person borrows money.
For example
At the bank.
Then this person has debts to the bank.
And the person must repay the money to the bank.

Over-indebtedness

Some people run up a lot of debt.
Then people realize at the end of the month, for example:
The money is enough no longer for payment.
This is called:
Over-indebtedness.
You could also say:
Having more debt than money.

Interest

Banks charge a lending fee for lending money.
This is called:
Interest.

For example:
A bank lends 20 thousand euros.
After a certain time
the bank gets the money back.
But the bank takes a Lending fee.
That means:
The person pays the money back.
And the person has to pay a rental fee.
The person must therefore pay back more money.
More than 20 thousand euros.
This rental fee is called Interest.

On behalf of SCHUFA Holding AG, Kormoranweg 5, 65201 Wiesbaden, Germany

Plain language: 2023, Kirsten Czerner-Nicolas,
Testing group of Christopherus-Haus Werkstätten Gottessegen gGmbH: Cordula Schumacher, Silke Agne, testing assistance: Franca Leistenschneider.