Loan payment delays: what are the consequences

Loan payment delays can be caused by various reasons and with Wolfdietrich it is possible to receive assistance to analyze and solve the problem as quickly and efficiently as possible.

In the event of late payment, the financial institution does not usually take into consideration the reasons for non-payment. The latter may be excluded from the debtor’s will as in the case of a delay in receiving the salary; in the event of late payment, the bank or credit institution is required to report the situation to the CRIF (Financial Intermediation Risk Center). Which is the company that manages the Credit Information System (SIC). In cases of late payment of loan installments, before reporting the debtor as a “bad payer”, the financial company is obliged to warn the client beforehand. Usually it occurs through a registered letter with return receipt that urges you to pay the installment, under penalty of writing in the list of bad debtors. This provision has recently been made mandatory precisely to inform the debtor of the negative consequences in the event of prolonged late payment of loans .

Loans with late payment ? What can be done?

Loans with late payment ? What can be done?

You get a loan with prolonged and frequent payment delays is absolutely not a simple thing as it will be reported to the CRIF, which does not happen instead if the default situation is due to a momentary lack of liquids, demonstrated by the debtor. Not only will the loan payment delays be sufficient to proceed with the report, but it will therefore be necessary to establish a deficit balance sheet. Which would later cause the debtor’s total insolvency.

When, on the other hand, due to persistent loan payment delays, it is reported, the denied data remains in the database for a period that can vary from a minimum of 6 months to a maximum of 36, based on the reason for the entry in the list bad payers.

 

Payment delays loans and possible solutions

Payment delays loans and possible solutions

If you are struggling with late payment of loans and do not know if you have been reported to CRIF or are looking for a solution to your situation, ask Wolfdietrich for advice. The financial assistant that will help you solve your problems.