Luototietoa

Luototietoa is information used to evaluate the creditworthiness of individuals or organizations. In Finland, luototietoa is maintained by credit information companies and is gathered from lenders, landlords, telecom operators, and public records. The data typically include identification information, payment history, outstanding debts, loan agreements, and current credit card or loan balances. It may also contain indicators of credit risk, such as delays in payments, defaults, or enforcement actions, as well as public records like bankruptcies or other financial obligations.

Purpose and use: Credit information is used by banks and other lenders to assess the risk of lending, by service providers to determine eligibility for credit or ongoing service terms, and by landlords for tenancy decisions. The information can influence whether a loan is approved, the interest rate or credit limit offered, and the terms of service or tenancy.

Regulation and rights: Processing luototietoa is governed by Finnish data protection law and the EU General Data Protection Regulation. Individuals have the right to access their own luottotiedot, request corrections to incorrect data, and object to certain processing. Credit information companies must disclose data sources and ensure data accuracy, while data sharing is limited to parties with a legitimate interest and under conditions designed to protect privacy.

Access and safeguards: Consumers can request a copy of their luottotiedot from credit information companies, often via online services. Regular monitoring helps detect errors or outdated entries. Due to the potential impact on access to credit and services, accuracy and up-to-date information are emphasized in the system.