A negative credit history is formed if a borrower misses payments for more than 90 days.
During the discussion, the deputies considered amendments to the Law "On the Exchange of Credit Information," which provide for:
- reducing the retention period for positive information from seven to five years;
- shortening the retention period for negative information from five to three years.
Additionally, it was proposed that negative data on loans with amounts less than 10,000 soms be retained for one year.
The draft law was approved by the deputies in the first reading.
