Bad payer? Getting a mortgage is not impossible. The cancellation from the black list can be done in a simple process. Once obtained, the request for a loan can be submitted. If you are still in the Register, there are still solutions you can evaluate.
Becoming a bad payer is not so difficult in the economic situation in which Italy finds itself. The number is increasingly favored by the difficulties of paying installments, by delays, or even by default. The condition of insecurity is also facilitated by the insecurity of the uncertainty of the monthly salary. The statistics are not positive and with the increase in the percentage of people in distress in the payment of loan installments, banks, and financial companies are increasingly reluctant to grant loans for the purchase of an asset such as a car, a house, or other.
However, there is a clarification to be made: to end up on the black list of bad players it’s not like ending up on the black list of protesters. Let’s see the physiognomy of the so-called “bad payer “.
Who are the bad payers
Bad payers are subjects who, after requesting a personal loan, have encountered some problems in repaying it. The debt is finally paid, but they are in any case filed in special risk centers. Although they do not end up in the Informatic Bulletin of Protestants, the registers of these Centers are consulted, as usual, by the credit institutions before opening a credit line. On the other hand, it is not so difficult to become a bad payer: even the delay in paying only two installments is enough to remain on the blacklist of the Crif for a year. The stay depends, of course, on the duration and frequency of the delays.
To become a bad payer it is enough to be insolvent even towards some installments
Information relating to bad payers is collected by both public institutions and private companies.
With regard to public structures (Public Risk Centers), they report to the Central Risks of the Bank of Italy. This deals with mortgages, loans, and advances equal to or greater than € 75,000. The Central Credit Register of the Interbank Company for Automation (SIA) takes care of debts between € 31,000 and € 75,000.
As for the private structures (Private Risk Centers such as CRIF, CTC, Experian) they are connected with the banking system and keep records of data on debts for amounts up to € 31,000.
The Archives of these Centers can be consulted by Banks and Financial Companies. However, as mentioned above, the law has precise rules regarding the permanence and cancellation of the bad payer from the lists. The directives are as follows:
- arrears for 2 installments or for 2 months (with subsequent repayment of the debt): 12 months from regularization
- arrears of more than 2 installments or 2 months (with subsequent repayment of the debt): 24 months from regularization
- serious arrears: 36 months from the contractual expiry date of the relationship or from the date on which changes were made to the contract (such as various agreements or partial refunds)
Deletion is usually automatic, but errors may occur and personal data may remain associated with a resolved and overcome debt situation. It is therefore good to check the expiration of the report. If you notice the error, you must ask for the cancellation of the data through the forms provided by the banks themselves or contact the consumer associations.
It is advisable to try to pay off debts as soon as possible and check that our name has actually been canceled
How to get a mortgage
Granting a loan is a risk and banks want to make sure that the borrower is able to pay it back. The first check that is triggered is that of the list of Protestants, which is updated to the last 5 years, so you will not find information on previous protesters even if they have not paid the debt. Banks and companies, therefore, request information from some specialized credit institutions to check that the customer does not have problems with other companies.
The situation of bad payers is not completely compromised from a credit point of view. This means that in some cases, you can take a not-too-complicated process to be rehabilitated and be deleted from the list. Of course, the condition so that you can hope for a mortgage without too many complications is that you have made all the outstanding payments before any request is made. If the bad payer, in fact, requests cancellation from Crif or from the other risk centers, his situation will be simpler.
If times are tight and you need to get a short-term mortgage, you can visit different banks to find the one that follows the policy that best suits your needs. Some lenders provide for greater tolerance towards bad payers and are willing to accept a certain number of delays, which vary from bank to bank. Some of them, in fact, exceed the average tolerance threshold of three months and even reach 6 months. When applying for a loan, it is useful to request both the credit institution’s regulation and the number of delays tolerated.
The expected interest rates are usually no higher than the average ones. However, lower coverage rates of up to 60% or 70% are granted and more solid guarantees are required.
There is a good chance for a bad payer to get a loan. Some banks offer customized solutions.
Mortgage loans for bad payers
There may be banks that provide mortgage loans even to bad payers. Usually, these are granted to their clients, who have a known financial history. Furthermore, the credit institution establishes:
- maximum ceilings for the duration of the loan
- maximum amounts payable
- a higher than average spread
This type of mortgage is usually accompanied by second-degree mortgages, also required on properties that were subject to another mortgage. The main features are:
- a loan for a maximum amount of 50,000 euros
- an average duration not exceeding 54 installments
- a spread greater than 2% (even if the duration of the amortization plan is limited)
- ancillary costs (preliminary investigation, appraisal, explosion and fire insurance, etc.)
The repayment of the installments is guaranteed by bills, which are returned only after payment has been made.
Pay attention to the payment deadlines with rids and wire transfers in order for them to be successful. If the payment does not result, it is advisable to call the bank or the financial creditor and make the payment. It is the duty of the debtor, in fact, to ensure the punctuality of the deposit, verifying that there are no problems in the system of automatic withdrawals.
In the situation in which the conditions for cancellation from the list of bad payers do not exist, obtaining credit becomes difficult if not impossible if you opt for an online mortgage. It is therefore advisable to first contact your bank or other institution that accepts registration, first inquiring about the tolerance criteria. If any way is denied, the hypothesis of contacting the financial companies that deal with these particular types of mortgage will have to be considered.