When will a payment default entry be made in my credit information?

Receiving a reminder or collection letter alone does not result in a payment default entry. Usually a payment default entry only arises if an invoice is not paid despite a collection firm’s payment demand and the case is settled in the District Court in so-called collection through legal measures. 

If your case has become pending in the District Court, you will receive a summons notification about this. If, at this stage, you do not pay your debt or contest the case, the District Court will issue a judgment. The payment default entry itself comes from the judgment, and the case may thereby also proceed to enforcement. You can also avoid a payment default entry by making a settlement via the My OK service.

A payment default entry may also result as a consequence of enforcement. Even in this case, the initiation of enforcement proceedings alone does not in itself result in a payment default entry in a customer’s credit information, but an entry will result from a declaration of insolvency. 

In exceptional cases, a payment default entry may also be obtained without a District Court judgment or enforcement. This may happen if, for example, a consumer credit remains unpaid for over 60 days. In such cases, however, the credit agreement must mention the possible payment default entry and, in addition, you must be reminded of the matter in good time in advance so that you have an opportunity to pay the receivable and prevent a payment default entry arising.

Additional information on payment default entries (in Finnish)