Verbraucherauskunft

Verbraucherauskunft refers to information that consumers can obtain about themselves, particularly concerning their creditworthiness and financial standing. This concept is closely linked to data protection laws and the rights individuals have to access and correct personal data held by various entities.

In Germany, for example, the term Verbraucherauskunft is often used in the context of credit bureaus like SCHUFA. Individuals have a legal right to request a free copy of their data held by such agencies at least once a year. This allows them to review the information that is used to assess their credit risk, which can impact their ability to obtain loans, rent an apartment, or even get a mobile phone contract.

The process typically involves submitting a formal request to the credit bureau, often requiring identity verification. Upon receiving the request, the bureau is obligated to provide the consumer with a comprehensive overview of their stored data. This includes information on payment history, existing credit lines, and any negative entries that might affect their credit score.

Beyond credit information, the broader principle of Verbraucherauskunft extends to other areas where personal data is collected and processed. Consumers have the right to know what data is being stored about them and for what purpose. This empowers them to identify any inaccuracies or unauthorized processing and to take appropriate action, such as requesting corrections or the deletion of data, in line with regulations like the General Data Protection Regulation (GDPR).