In recent years it has happened to many Italians to be refused the loan or loan requested from a bank or a financial institution.
This does not always depend on the lack of sufficient income to regularly repay the loan installment, but may depend on other factors.
Probably, in fact, you’ll have heard about bad payers’ databases.
When we enter a financial institution to apply for a loan, a loan or a loan, our name and the information concerning us are recorded in the databases called Centrale Rischi, among which the most important are those of the SIC (Credit Information System) .
The latter (Crif, Ctc, Experian, the best known) contain all the data relating to loan or loan contracts with a value of less than € 31,246.00 and are fed by the reports made by all the banks.
When a citizen or a company makes a request for a loan, loan or loan, the Institute opens an investigation going to check on these databases if negative events (so-called “prejudicial”) related to the name of the applicant are reported. to relationships – past and present – with credit institutions. In other words, they will go to see how much funding we have in progress, if we are paying them regularly or if we have accrued delays in payment of installments, how many times we have been refused a loan from another Institute, etc.
In particular, the “historian” of the applicant is analyzed to verify how he behaved in the past, first of all if he had problems with the payment of installments, if he has accrued delays or if his position was even passed to litigation.
All these investigations allow the Bank to assess the degree of reliability of the potential customer, or what in technical terms is called “creditworthiness”, deciding, therefore, whether or not to grant the loan.
Therefore, the Central Risk Databanks have a very important function as they allow the credit system to contain the risk of over-indebtedness (ie, too much financing with respect to income) or to grant loans to those who are unable to repay them.
However, in many cases it has been found that the huge amount of data that is managed by the Central Risk, is not always managed and stored properly and complies with the Code of
In particular, the code of ethics and good conduct provides a maximum time for data storage in Central Risk, time that varies from case to case. Just to give an example the default of two installments of a loan that have been remedied can not last more than 12 months from the date of regularization.
The deletion of data should take place automatically but in reality it is not, also due to a series of technical problems due to the management of a huge flow of data.
Our firm offers its customers the experience gained in this field to allow those who have been reported in Central Risks to obtain – if there are the conditions – the cancellation of their name to protect their privacy and to get back free access to the credit system.