Based on consumer credit laws, credit providers founded an information centre for consumer credit (Information Centre for Consumer Credit or ICO). Its statutes have been approved by the Federal Department of Justice and the Federal Police Department.
According to consumer credit laws, credit providers must notify this centre of the following for every consumer loan granted:
- Borrower's surname, first name, address and date of birth
- Type of credit
- Implementation of contract
- Number of installments
- Total amount of credit including agreed interest and costs
- End of contract (as stated in contract)
- Amount of installments (as stated in contract)
Belated payment must also be disclosed.
When performing a credit check, credit providers have the right to all information known to the ICO about the borrower.
Data protection laws apply to the ICO. Everyone has a right to his/her own information. In order to receive such documents, you must place an order with your signature and send it to the ICO along with a copy of formal identification (such as your passport, driving licence or residence permit). Information will then be disclosed within 30 days.
The ICO on the Web: www.iko-info.ch (not available in English)
