Protested or bad payers? There is always talk of financial vulnerability, but the legislation in this regard distinguishes well between the two ‘categories’. The protestant is the one who can end up in the Register of Protestants of the Chamber of Commerce, for a full insolvency.
The bad payer has problems in returning a loan requested, but then he welds it, without getting to be imprisoned in the ‘mesh’ of the protest network. In this case, however, you are filed in the so-called Central Risk Centers that the various financial institutions consult each time someone turns to them to ask for financial help.
And how to get a new loan if you are protested or bad payers? Are you both in a cauldron of general distrust towards us or is there a chance to get out of our financial distress?
A bit of clarity
We try to clarify, starting from a simple information: what exactly is a ‘protest’ ? It is a public deed that shows that the debtor has not honored the payment of a debt towards a creditor who then turns to the law to get it back, that is ‘raise the protest’.
The officers of the levy (judicial officers, notaries and municipal secretaries) send on the first day of each month to the president of the Chamber of Commerce the list of protests raised for non-payment of promissory notes, bills accepted and bank checks, as well as the list of complaints for non-acceptance of bills. In fact, it is precisely the chambers of commerce that “manage” the list of protestors who, in order to increase the transparency of commercial relations, place them in the Register, within ten days of receiving the report. The computer registration ensures completeness, homogeneity and timeliness of information throughout the national territory. Each protest is kept there for five years from the registration date and disappears after that date even if the debt has not been paid.
Of course, it is taken within 12 months from the rising of the protest and the inclusion in the sad list of prior payment for unlawful or erroneous nature of the protest, for rehabilitation.
Then we turn to the chamber of commerce with the necessary documentation, especially in the case of bills paid at this point. Slightly different speech to cancel the protest of a bank check : instead it is necessary to request and obtain rehabilitation through the Court competent for the area or residence.
And the bad payer?
And we come to the bad payer: it is those who have delayed the payment of one or more installments of funding. Only a delay, of course, but there is the possibility of being included in the Credit Information Systems, where you stay up to 36 months. This means that in all this time it will become much more difficult to ask for new credit.
What are Credit Information Systems?
In our country there are the Central Financial Risks, the Experian Cerved Information Service born from the union of Experian and Cerved Group, the Credit Protection Consortium.
How do data come from one that simply has a payment delay? It is the credit institutions that pass the relevant insolvency data, respecting the privacy criteria according to a code of ethics that came into force in 2005 and naturally with a certain tolerance, in the sense that communication to the SIC starts after the non-payment is not made over two consecutive months from the deadline. Also in this case, however, at least 15 days before the bank or the financial advises of the risk of ending up in the list, to give the possibility to regularize the position.
But how long do you stay visible in SIC, if you do not pay?
- 12 months for delays in payment of 1 or 2 installments;
- 24 months for delays in payment of 3 or more installments;
- 36 months in case of loans not repaid or with serious default.
But can you have a new loan?
At this point, both from protested and from bad payer, how to get a new loan?
Among the solutions, however, linked to those who are employees or retirees, there is the assignment of the fifth salary or pension, or a demonstrable fixed income and already in itself ‘guarantor’ and able to eliminate the risk of insolvency. In fact, the installment is held directly in the paycheck or on the pension.
If the appeal to the fifth is not sufficient, however, there is the so-called ‘double fifth’ loan formula: the installment can go up to the transfer of two fifths of the monthly salary, which makes it usable only to employees.
Employees are still ‘privileged’ compared to other forms of workers, such as the self-employed, if instead of assigning the fifth (or double-fifth), they opt to guarantee their severance indemnity, severance indemnity, in short.
A further alternative concerns the surety, under which another person can guarantee repayment of installments instead of the principal debtor.
Also worthy of note are loans with the signing of bills of exchange with interest rates and fixed installments. As well as the request for a loan by putting their properties as collateral with an ad hoc mortgage. Fortunately, such a procedure can also be requested by those who can not prove that they have a fixed monthly income and their home or property becomes their personal source of guarantee to access the loan, eliminating at least on this occasion, the gap between the privileges of employees (who already have advantages only for the fact of being!) and who not only does not have the security of a salary, but is likely to sink even more in the black hole of a life without certainties.