Conclusion of debt adjustment

Your payment scheme concludes on the date specified therein if no changes have been made to it and payments have not been deferred.

If your payment scheme was updated, the conclusion date is specified in the latest version of the payment scheme. Debt adjustment concludes automatically and does not require any action from you if you have made all the payments and complied with any additional payment obligations.

Keep following your mail in case a creditor requests an account of any additional payments (e.g. on increased income or inheritance received during the payment scheme). Creditors retain the right to ask for an account after the payment scheme concludes for any additional payments under the payment scheme. If you do not respond to their request, the creditor has the right to apply for a court decision confirming the additional payments for two years. Financial and debt counselling provides advice in matters related to the additional payment obligation.

The lender will remove the debt restructuring entry for the loan from the Positive credit register once the payment plan ends. The entry remains valid in situations where the loan payment obligations have not been met or liquidation orders have not been executed. The entry will be deleted while the additional payment obligation is being settled. If additional payments are due, their amount is entered in the register as credit. 

Payment default entries made due to a debt adjustment are removed after a month from the conclusion of the payment scheme. If necessary, you have the statutory right to check your credit record for free.

Avoid incurring more debt. Keep an eye on your income and expenses, and plan your finances regularly. Critically examine your spending, consider whether purchases are necessary and compare prices. Put money aside regularly, even if the amounts are not large. Even the slightest financial buffer can come in handy in unexpected situations.

Be conservative with taking out credit and always carefully read the repayment terms and conditions. Before taking out loans, calculate whether your income can cover your necessary living expenses and the repayment instalments of the loan. When your income covers all your expenses, your finances are balanced.