The reporting to the Crif varies according to the severity of the default or the type of financing requested. Those who do not pay an installment are not in the same position as those who never pay. Here are the new times to be able to clean up your credit “record”.
Being a “bad payer” means not having honored a loan, in whole or even in a small part. A slip that automatically causes our name to end up on a “black list” will make it very complex to still be considered reliable and therefore potentially financeable.
A situation that occurs if the non-payment period is extended for 2 months and after the bank has signaled the imminent registration 15 days in advance. Today this “license of reliability” has changed and from 2021 it has new rules decided by the Privacy Guarantor, in agreement with the trade associations based on the Gdpr, the regulation that introduced a discipline on the protection of personal data.
The news
The new norm is the first to open up to new times for the conservation of the names of non-compliant persons in the archive. Once these times have passed, the cancellation is ensured and the “credit record” clean again, to possibly obtain new loans.
But how long is it? The reporting to the Crif varies according to the severity of the default or the type of financing requested. Those who do not pay an installment are not in the same position as those who never pay.
The new times
The cancellation from the list of bad payers varies according to the variation of the insolvency: for one or two installments paid late, one is canceled from the black list after 12 months; in the case of three or more installments after 2 years of regular payments, while in the extreme case of loans never repaid, the cancellation occurs between 36 and 60 months from the contractual expiry date, and therefore from the end of the pre-established repayment plan; but if events occur that make it necessary to update the data, it is possible to keep the data up to 5 years.
Am I a bad payer?
In case of doubts, you can freely access your data registered in the Sic, where you can download the Crif form. To find out if you are registered in Crif as bad payers, for each loan you need to check the ” payment trend detail ” line and those immediately below: if the “late payments” line is composed only of zeros and the line below “other reports” there are no figures or letters so it appears that the loan is regular in all respects.
If the “late payments” line contains numbers, however, it means that some installments have not been met promptly. The highest number corresponds to the number of installments that have not been paid: in the case of the number 00013333, for example, there will be three unpaid installments.
If the line ” other reports ” shows a letter “i” it means that the credit position is considered “substandard”, ie the bank thinks that it will be difficult to recover your loan. Finally, if the line “other reports” shows a letter “s” we are in the most serious situation that can arise since the profile indicates the existence of bad debt, or rather the credit institution ascertains that the debt will not be repaid.
