Loans: how to unsubscribe from the SIC and how long it takes

The Credit Information Systems (SIC), are extremely feared in Italy, especially by those creditors who have had payment problems in the past for the loans obtained. The best known of these data storage systems that contribute to forming the credit worthiness of each of us is the one managed by the CRIF. However, with regards to the time required for the data to remain in the database, we do not have very clear ideas. An assessment at

Debtor request

Debtor request

If they are positive, they can be canceled at the request of the debtor, as indeed happens with the preliminary inquiries, or the fact-finding investigations carried out by banks and financial institutions to evaluate the opportunity to grant or not a loan. Otherwise, the information is automatically deleted, without any possibility of submitting an application to delete it.

An automatism regulated by the appropriate code of ethics and variant according to the type of data. For example, in the case of the CRIF, in the case of a loan in the course of an investigation, the period of time set is one semester starting from the request. For loan applications terminated by a waiver or a refusal by the credit institution, it is necessary to wait at least one month after the waiver or refusal in question. In the case of loans that have been repaid regularly, if there is no specific request, it takes at least 36 months from the date of termination of the credit report.

Solution to your problems

Solution to your problems

Much more complex is the discussion regarding all the proceedings that have seen some problems arising. If in the event of a delay in the repayment of one or two installments, it takes twelve months for the regularization, provided that during the period of settling the repayment has been made regularly, if the delayed installments become three or more they also lengthen the period of the regularization to two years, even in this case, however, only if in the period in question everything happened with the utmost punctuality.

If in case of delay, the punishment is still quite venial, the situation becomes much more problematic if the position concerns those who have not respected the amortization plan or have done so with serious delay. In this case, in fact, it becomes mandatory to wait three years, before the credit line is extinguished or from the time of the last update provided by the financial institution. These are times that cannot be negotiated, for obvious reasons. It should also be remembered that the same Crif strongly recommends mistrusting all those who are ready to guarantee an intervention in this sense, perhaps upon request of money. It is in fact a procedure that is not only impossible, but also illegal, since the cancellation from the company database is totally free and must be carried out according to precise rules.

The request to access the data in the archive is also free, as long as the name of the person making the request corresponds to that of someone who has had a credit report in the past or even recently. In the opposite case, to be able to access the data consultation it is necessary to pay an expense contribution amounting to ten USD, which can be paid through a postal current account slip or using one of the many SisalPay sales points scattered throughout the national territory.

The free deletion of information can be obtained in a single, well-defined case, the one in which a fraud is discovered, or the use of one’s name for a loan, with automatic registration in the system. In this case, an immediate report must be made to the police authorities, with subsequent dispatch of the complaint to the CRIF, accompanied by the cancellation request.

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