Two Million Romanians Deemed Bad Loan Payers Over 4-Yrs – Credit Bureau

The Credit Bureau receives information on the clients with 28 banks, eight consumer credit companies and two leasing companies.

Representatives of the banks in Romania said they disagree with the law on notifying the clients with late payments, 15 days before notifying the Credit Bureau.

"When signing a loan contract, people undertake some obligations and they should not be reminded about late payments," the president of Romanian

Banks Association and CEC Bank, Radu Gratian Ghetea said Wednesday.

Ghetea said the banks notify the bad payers by phone, email or SMS, but the only accepted and proof-based notification is the letter with receipt confirmation.