The Role of Economic Information Bureaus in Sharing System of Debtor Economic Data

Abstract

The development of financial market is conditioned by the performance of sharing information system on financial obligations. The system is composed of economic information bureaus and credit information bureaus. The lack of data bases on financial obligations make the correct assessment of creditworthiness of potential debtor impossible. The effective sharing information system on financial obligations reduces credit price, enhances the level of financial decision accuracy and reduces the scale of excessive household debt phenomena. The estimation of sparing information system is based on the quantity and quality of records and accessibility of the system for the users. The aim of this paper is to investigate the activity of economic information bureaus as part of sharing information system on financial duties. The paper is focused on the evaluation of the role of the economic information bureaus in the terms of protection for debtor and creditors. The analysis was carried in aspect of the Act of 7 April 2017 on easing creditors in process of enforcing contracts. The results present the impact of new regulation on general and individual economic security. There are also recommendations referring to further resolutions increasing the level of confidence and safety in economic relations.