Schufa - the German credit rating system

How does the German credit rating system work?

For example can someone get a phone line if they've got bad schufa rating?

jeremy-style question - what the hell is schufa?

www.schufa.de

Basically its the german credit rating people.

Dont pay a bill (for a long time), miss a loan payment etc you get an entry on your schufa record. If you apply for credit, or if you give permission for someone to do a check against you (like DT when opening a new phone account) then they search schufa for you and a record of the search is retained as well

Theres certainly some intresting information in this pdf in english from them.

I certainly didnt realise that schufa were now holding european records.

You can obtain a copy of your own record for €7,60 or you can inspect it at a schufa office free of charge..

Office details in munich :

SCHUFA Holding AG
Geschäftsstelle München

Elsenheimerstraße 61
80687 München

Postfach 21 04 68
80674 München

Tel: 089 / 57 00 61 11
Öffnungszeiten:
Mo - Fr 09:00 - 12:00 Uhr
Di + Fr 14:00 - 16:00 Uhr

Anfahrt:
Sie erreichen uns: per Zug bis München HBF / U-Bahn U4/U5 bis Haltestelle Westendstr. / Von allen Autobahnen über den mittl. Ring-Ausf. Westend.

HTH

Phil

More information on the forum entry SCHUFA - The German credit report system, including my experiences with the SCHUFA reports.

I can also categorically confirm that a SCHUFA check is NOT done to get a phone line from Deutsche Telekom, although I can't speak for other phone providers, but I doubt it... Some VoIP providers (e.g. Sipgate) do do SCHUFA checks, but not so much to check your credit rating as to check you actually exist

YL6

Any suggestions on ways to overcome a negative SCHUFA rating? I guess the best things is to create good credit to offset the bad but how is that possible in Germany if the first thing people look at is your SCHUFA rating?

Well, we went to DT today (still the worst customer service ever), and my friend was told ok, he might get a phone line in 2 weeks time, but they'll have to see first, he might have to pay a Sicherheitsleistung (security deposit) of a few hundred euros. When i asked why should he, they said "well if he's got a bad schufa rating..." ... ?!?!? So what is happening there?

I had to get a Shufa rating recently and although I have no bad credit history in Germany I do at home. However, it came out completely clear so there mustn't be a link up to British records.

the advantage of moving to another country...

bank with the stadtsparkasse. They dont have a reciprocal agreement with schufa.

They don't just do Germany, they are a worldwide company. Do you really think you (IE citizen) wouldn't be in the system of one of the biggest EU credit reporter.. Think again.
PS: Stadtsparkasse seem to indeed have an agreement with SHUFA.. Have a look in Google...