Frequently Asked Questions (FAQ)
Why won’t the bank finance me?
Tiresias Registries do not contain financial evaluation or other assessments of the data included therein. Such data are exclusively assessed by their recipients, who evaluate them in conjunction with their own data, always bearing in mind the financial transaction to take place and their credit policy.
Consequently, the data kept in Tiresias Registries are of a subsidiary nature and under no circumstances do they obligate, compel or deter the recipient from entering or not entering into a financial transaction.
Why did the bank not inform me about the data in your registry?
Information may be provided to you (exercise of right to access) solely via Tiresias, which keeps the registries and functions as the Controller
How can I improve my “picture” in the credit bureau registry?
Α. By providing Tiresias with the appropriate supporting documents in order to supplement or erase the data that concern you, as appropriate.
Β. By settling your financial obligations in good time (payments of instalments, bills of exchange, cheques, etc.) and by not accepting financial risks which you are not certain you will be able to cope with in the future.
Which supporting documents will I need when I contact Tiresias?
In order to receive the best possible service when visiting Tiresias offices regarding any transaction, please have your police-issued identity card or passport with you and be aware of your tax identification number (TIN).
If you send the supporting documents via e-mail or post, please use the standardised application forms.
Moreover, in each case and depending on your request (supplementation - rectification/erasure of data etc.), the relevant supporting documents will be required. For any further information, contact our call centre.
What are my rights to my data under the law?
You have the following rights:
A. Right to Access
To know which of your personal data Tiresias keeps and processes, their source, the purposes for which they are being processed, and the period of their retention by register or as a whole. Furthermore, in the context of exercising your right of access, you may also request information on searches made about you by the recipients of our registers during the last six months (number and source), including any activation of the alarm notification in cases of entry or erasure of data which concern you.
B. Right to Rectification
To request the rectification and/or supplementation of your inaccurate personal data so that they are complete and accurate.
In this case, you must present all necessary documents evincing the need for rectification or supplementation. In cases of rectification, Tiresias will notify recipients of the rectified data during the last six months or any shorter period when the data in question were entered in the register.
C. Right to Restriction of Processing
To request the restriction of processing of your data. The right to non-transmission of data, as described below, is also an expression of the right to restriction of processing.
D. Right to Object
To refuse and/or object to any further processing of your personal data kept by Tiresias, including ‘scoring’ (creditworthiness scoring system).
E. Right to Erasure / Right to Be Forgotten
To request erasure of your personal data from the registers kept by Tiresias, in accordance with Article 17 of the GDPR. In cases of erasure of data, Tiresias will notify recipients of the erased data during the last six months or any shorter period when the data in question were entered in the register.
F. Right to Portability
To request portability of your data, in accordance with the conditions laid down in the General Data Protection Regulation.
Please note the following with regard to exercising the above rights:
- The data Tiresias enters into its registries are absolutely necessary in order to serve the processing purpose, while the processing it carries out and the keeping of data is necessary for its compliance with a legal obligation and for the purpose of serving the legitimate interests of the data recipients (which override the rights and freedoms of the data subjects) and the performance of agreements concluded between them (credit and financial institutions, for whom credit bureau registers functions) and data subjects.
In accordance with the foregoing, Tiresias has the right to refuse your request for restriction of or for erasure of your personal data or your objection to processing if the request is not sufficiently substantiated, if the processing of the data is necessary in accordance with the law and for the establishment, exercising or defence of its legitimate rights.
- Despite the foregoing and the fact that this right is not provided for in the General Data Protection Regulation (GDPR) but is conferred on data subjects under the regulatory framework laid down in Law 2472/1997 and the regulatory decisions of the Authority as a form of the right to object provided for therein, if you so wish, Tiresias may cease transmitting data which concern you to the recipients of its registers, in which case a relevant indication (on the non-transmission of data) will be displayed.
The above right is a more specific expression of the right to restriction of processing (Article 18 of the GDPR).
The exercise of the above rights applies for the future and does not concern data processing already performed.
G. Right to Complain to the HDPA
To lodge a complaint with the Hellenic Data Protection Authority (www.dpa.gr), where you consider that your rights have been infringed in any manner.
The Company has designated a Data Protection Officer in accordance with Article 37 of the General Data Protection Regulation (tel.: 210 36.76.700, email@example.com, 2, Alamanas Street, GR-15125 Marousi).
Why must I wait (2 years, 4 years, etc.) so that my settled data cease appearing, and what is the retention time for data on default of financial obligations and prenotations?
The Retention Period of the data kept by Tiresias in its aforementioned registries is according to ar. 40 Ν. 3259/2004, as modified by ar. 70 Ν. 3746/2009 and ar. 4 Ν. 3816/2010 and is in effect.
Where does Tiresias find the credit bureau data on natural and legal persons in its Default of Financial Obligations System (DFO) and Mortgages and Prenotations to Mortgages System (MPS)?
With regard to the DFO & MPS, please see the Which Data are Kept section
Credit Consolidation System (CCS) data are forwarded to Tiresias using electronic means via:
- Credit institutions
- Credit companies
- Leasing companies
- Factoring companies
- Card issuance and management companies
- Credit servicing firms
- Payment institutions, where they provide credit
- Electronic money institutions, where they provide credit
- The Engineers’ and Public Works Contractors’ Fund (TMEDE) (hereinafter “Bodies”), which are solely liable for the accuracy of the data.
I am a sponsor for a loan/credit card. Are there cases where I would be entered into the Tiresias registers and, if so, in which registers?
If you are a sponsor for a loan or card and the competent credit - financial institution discloses the relevant information and your name, the relevant information will be entered into the Credit Consolidation System under your particulars, with the indication that you are a sponsor.
In the event of termination of the loan or credit card agreement, following a disclosure by the competent credit - financial institution, the relevant information will be entered into the Default of Financial Obligations System (DFO) and Mortgages and Prenotations to Mortgages System (MPS) under your particulars, with the indication that you are a sponsor.
If a payment order is issued on the basis of this report, the information concerning issuance of a payment order will be entered into the Default on Financial Obligations Register under your particulars, with the indication that you are a sponsor.
Is my consent required for entry of data that concern me in the Default of Financial Obligations System (DFO) and Mortgages and Prenotations to Mortgages System (MPS) and/or the Credit Consolidation (CCS) System?
No. In accordance with Decision No 109/1999 of the Hellenic Data Protection Authority (24/ 2004, Government Gazette, Series II, Issue 684/ 11.5.2004), the provisions of Article 40(2) of Law 3259/2009 and the GDPR, your consent is not required for such processing.
I have endorsed a check marked ‘refer to drawer’. Will I be entered into the credit bureau registry?
Information concerning the issuance of a bounced cheque is entered solely in the name of the issuer. However, if a payment order is issued on the basis of this cheque against the endorser as well, then the information in question shall also be entered in the name of the endorser.
How long do data remain in the Credit Consolidation (CCS) System?
Data on credit consolidation are kept for five years from the date they were last updated by financial bodies. This applies whether the information is forwarded by the body in electronic form or provided by the interested party in the form of an attestation issued by the body in writing.
Data relating to letters of guarantee and documentary credit are kept in the registry for 5 years from the forfeiture/non-payment of the letter of guarantee or documentary credit, respectively. In cases of timely payment, such data are automatically erased.
I appear in Tiresias even though I have fully paid off my loan/card. Why does this happen, and how do I stop appearing in your registries?
Credit consolidation data are kept by for five years after they were last updated by the credit bodies.
What is my score, how is it generated and how does it affect my ‘picture’ or that of my enterprise?
Your score is generated on the basis of all your data appearing in the credit bureau registers kept by our company (DFO & MPS - CCS) using statistical models which compute it on the basis of a statistical valuation of past transactional behaviour; this score is dynamic and changes whenever the data that concern you change.
Factors which may affect your score include but are not limited to:
- Delays in repaying financing debts
- Presence of data concerning defaults on financial obligations (DFO)
- Timely payment of financing debts
Your score is evaluated exclusively by the credit and financial institutions which requested it, which make the relevant decision on whether or not to extend a loan or credit, taking into account the other information available to them and their credit policy. Therefore, your specific score at any given time alone does not result in the extension or non-extension of a loan/credit.
How can I rectify my data?
You can find the conditions and supporting documents required on our Greek website.
I am late in paying my loan instalments. Does this affect my ‘picture’?
The Credit Consolidation System (CCS) also displays any delays in the repayment of credit debt. Delays in repaying your debts is one of the factors affecting your score.
Which actions lead to terminations included in the Terminated Merchants System (TMS)?
- Accepting cards previously declared as lost or stolen.
- Accepting cards not issued by the financial body or corresponding foreign body (e.g., counterfeit or forged cards).
- Conducting or entering real or sham transactions without authorisation from the holder.
- Infringing the terms of the cooperation agreement concluded between the enterprise and the financial body on accepting cards not falling under the above cases.
- Enterprises considered Common Points of purchase. In other words, enterprises where card data interception has occurred.
- Money laundering.
- Enterprises declared bankrupt, placed under liquidation or compulsory administration or not operating for any reason or which have been wound up.
- Altering the transaction amounts in the charge sheets issued during transactions.
- Self-financing. This concerns the creation of sham transactions on one's own behalf or on behalf of relatives.
- Breaking up of transactions into numerous smaller transactions (e.g., issuance of several charge sheets for one transaction, so that the total transaction amount is divided into smaller amounts not exceeding the enterprise’s limits on transactions involving unapproved cards).
- Inaccurate card issuance applications transmitted by the enterprise to the financial body in the context of their cooperation.
- Inaccurate cooperation application filed by the enterprise with the financial body. This concerns cooperation applications containing inaccurate or false information.
- Realisation of transactions invoking illusory approval.
- Excessive number of charge backs / transaction disputes.
I am a public works contractor and, in order to receive financing, I assign contracts and public works execution certification to Banks. Is such information entered?
The assignment information is entered into the Register of Assigned Claims under Contracts / Certification of Execution of Public Works (CCEPW) following disclosure by the bank to which the claim arising from the contract or the certification was assigned.
Which data are published in the Registry of Companies’ Data from Government Gazette Issues and the General Commercial Registry? Will I, as the manager of an LLC, be entered?
The Registry contains published acts (incorporation, amendment to Articles of Association, merger, etc.) and the company details published therein, including data which concern the directors, managers and partners of companies.
What data are kept in Tiresias for me as a natural or legal person?
You may be informed free of charge by the Public Service Office any time, whether you are a natural person or own an enterprise or are a freelancer.