Self-disclosure

A self- disclosure in finance is the information given by a future debtor / borrower and made available to the creditor / lender about personal and economic circumstances.

General

The self-disclosure is written in the form of a questionnaire and is used by the users as a form . It is intended to enable the user to make a financial decision based on the self- disclosure. Users can be credit institutions , credit intermediaries , credit insurances and other insurances , non-banks ( mail order business ), landlords or other creditors from continuing obligations ( leasing , providers such as telecommunication service providers or mobile phone providers ). As a creditor, you have an interest in receiving information about the personal and / or economic situation of your customers. Self-reports can be the only source of information for these creditors because other sources ( Schufa , bank reports , rating / scoring of the rating agencies ) are not available to them. The content of a written self- assessment can be confirmed by a tax advisor .

content

The self-disclosure includes two main groups, namely personal data and information about the economic situation:

• Personal data : name , first name , date of birth , place of residence , marital property , number of family members ;
• Economic circumstances : learned and practiced profession , employer , income , expenses , assets ( home ownership , household effects , bank balances , life insurance ), debts (and debt servicing from this), arrears , assumed liabilities ( e.g. through guarantees ), bank details .

Any entries in the list of debtors and in the asset report can also be the subject of a self-assessment. The self-disclosure must be signed by the information provider.

Legal issues

Self-disclosures contain personal data , the collection , processing and use of which could affect the data subject's personal rights. They are therefore the subject of the Federal Data Protection Act (BDSG). According to Sections 34 and 57 of the Federal Data Protection Act (BDSG), the person concerned with stored data of this type has the right to receive free information about this upon request (right to self- disclosure ).

The form of self-disclosure shall include a mention that the information in the form correctly , truthfully and completely must be as wrong and false information and deliberate omissions make an active deception is when incorrect or incomplete statements about was relevant facts are disseminated. So is offense of fraud ( § 263 of the Criminal Code ) or credit fraud ( § 265b Criminal Code). Under civil law there is fraudulent deception within the meaning of Section 123 of the German Civil Code (BGB) , which enables the creditor to contest it even after the conclusion of a contract . The fraudulent deception also protects the creditor in the event of deliberately incorrect self-disclosure as part of the automated credit check.

Lending

The individual banking groups have developed forms for self-disclosure. In the case of credit institutions, the self-assessment does not replace the requirement of a credit check according to Section 18 and Section 18a (3) KWG . Independently of a self -disclosure , banks also obtain Schufa information as part of the loan application . With his signed self- assessment , the customer grants the bank permission to inspect the land register , to obtain further bank information and Schufa information and, if necessary, to ask the tax advisor. The various sources of information are compared with each other and serve as loan documents . Parts of the self-assessment become part of the loan agreement , so that in particular the possible debt service resulting from it during repayment and any loan collateral are taken into account. With the exception of overdraft facilities , self- assessments occur with all types of credit, in particular with consumer loans , Lombard loans or mortgage lending .

Insurance

To avert a concealed information ( English hidden information ) require insurance companies in insurance specify the values to be insured or whether in the case of legal expenses insurance already disputes exist. In the case of personal insurance , information about previous illnesses ( health insurance , life insurance ) is required as part of the health check, which is not required for insurance with a medical examination. According to Section 19 (1) VVG , the policyholder is obliged to inform the insurer of the risk circumstances known to him, about which the insurer has asked in writing. If information is unclear or incomplete for the insurer, the customer will receive questionnaires from the insurer on the individual pre-existing conditions, which the customer must fill out.

Tenant self-disclosure

As a rule, landlords require potential tenants to provide a self-assessment . It is a questionnaire that the landlord submits to the prospective tenant before signing the lease. The landlord wants to get an overview of whether the prospective tenant meets his expectations and is able to meet his contractual obligations, in particular the rent payment . In addition to the content mentioned above, the tenant self-assessment also includes tenant-specific questions about possible rent arrears , eviction suits , foreclosures , given insurances in lieu of oath or imprisonment . It is also of interest to a landlord whether the tenant plays musical instruments and brings pets . The Federal Court of Justice (BGH) ruled in April 2014 that questions about the person and address of the previous lessor, the duration of the previous tenancy and the fulfillment of the tenancy agreement obligations there are also permissible, as these questions - as well as questions about the income and financial situation of the prospective tenant - are suitable to get an idea of ​​the creditworthiness and reliability of the prospective tenant. Such questions from the new landlord do not relate to the personal or intimate lifestyle of the prospective tenant and must therefore be answered truthfully.

Credit bureaus

Credit agencies collect personal or company data from publicly accessible registers ( commercial register , register of associations ) or publications ( business reports ) and are only exceptionally dependent on self-disclosure.

working conditions

In the case of employment relationships, employers are usually informed by the application documents , in which the employee provides information about his or her job-related qualifications and existing qualifications .

See also

• Private debt index
• Right to self-disclosure
• Advice and information system for the insurance industry

Web links

• Self-disclosure by the tenant - can the landlord ask anything?
• Advice on self-assessment by tenants , in particular on the admissibility of questions and obtaining information from other sources by the landlord.
• Information on the tenant self-assessment - including permitted questions, definition, content of the self-assessment & downloads of templates

Individual evidence

1. ↑ Harald Gerhards, Baufinanzierung von A to Z , 1992, p. 437
2. ^ Matthias Kuhn, legal acts by means of EDV and telecommunications , 1991, p. 170
3. ↑ Wolfgang Grill, Gabler Bank Lexikon , AK, 1995, p. 297
4. ↑ Harald Gerhards, Baufinanzierung von A to Z , 1992, p. 437
5. ↑ Helmut Keller, Practical Guide for Building Financing for Homeowners , 2013, p. 27
6. ↑ Claus-Wilhelm Canaris / Mathias Habersack / Carsten Schäfer, Großkommentar HGB , Bank Contract Law 2: Commercial Banking: Payment and Credit Business , 2015, Rn. 654
7. ↑ Rudolf Stürzer / Michael Koch, Tenancy Law for Landlords from AZ , 2016, p. 393
8. ↑ BGH, judgment of April 9, 2014, Az .: VIII ZR 107/13, NZM 2014, 430

Please note the information on legal issues!