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Solus reports on deadbeats

SOLUS, a registry and reporting service on customers’ payment discipline established by several banks and other businesses, reported that in late January its database included more than 115,000 records about 84,000 customers who had seriously violated their payment obligations, the SITA newswire wrote, adding that the total due amount exceeded €100 million in early 2011 but that some customers had already settled their debts.

SOLUS, a registry and reporting service on customers’ payment discipline established by several banks and other businesses, reported that in late January its database included more than 115,000 records about 84,000 customers who had seriously violated their payment obligations, the SITA newswire wrote, adding that the total due amount exceeded €100 million in early 2011 but that some customers had already settled their debts.

Solus has been collecting information about customers who fail to pay on time money owed to any of Solus’ member companies.

“The record in the register complicates the debtor’s ability to [receive] further services from members of the association,” Zuzana Krajčovičová of Solus said, as cited by SITA. “Thus, it is obvious that it motivates many debtors to settle their obligations.”

Solus said that in January 2011 over 10,000 customers had settled their overdue obligations. A debtor’s record is automatically deleted from the registry after they settle their overdue bills and after a certain period has elapsed: three months or three years, depending on the type of contractual violation.

Solus was established in September 2005 to monitor and protect financial products offered by banks and businesses to customers. Its members currently include mBank and Zuno bank, mobile operator Telefónica O2 Slovakia, financial institutions such as Cetelem Slovensko, Cofidis, Home Credit Slovakia and Santander Consumer Finance, and other businesses.


Topic: Finances and Advisory


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