When you are registered with the FICP, it is difficult to find a credit institution willing to lend you the money you need to complete an expensive project. Yet, projects are part of life and the credits should allow everyone to achieve his best dreams. This article provides you with the right solutions to find an organization willing to finance you and let you believe in your dreams.
What is the FICP?
The FICP is a database that lists information on credit repayment incidents, overdrafts and overindebtedness of individuals. This file, maintained by the ABC Bank, is nevertheless fed by banks, credit institutions and overindebtedness commissions which proceed to the registration of a person to this file.
You should know that before granting a person a credit or overdraft authorization, banks are obliged to consult this file. It is estimated that around 2.5 million individuals are registered with the FICP in France.
In which case is the FICP registered?
An individual may be enrolled in the FICP following a confirmed credit repayment incident, notably in the event of non-payment of two consecutive monthly installments of the credit, in the event of an authorized overdraft used in an abusive manner or because of a lack of refunds.
The financial institution must inform the borrower that it intends to register the FICP with the ABC Bank. It is left 30 days to the individual to regularize his situation and thus avoid the registration in the file of incidents of repayment of credits to individuals.
In case of registration, it remains 5 years maximum. It should be noted that any payment adjustment leads to early termination at the FICP. It will then be up to the credit agency that declared the incident to delete the file. If the latter does not proceed with the cancellation, it is possible to exercise the right of rectification by mail addressed to the bank.
How to obtain a credit when one is registered with the FICP?
One must be lucid, when one’s name appears in the national file of credit repayment incidents, getting credit is more difficult, but not impossible. Some organizations do not even take a look at a file request when they learn that the applicant is registered with the FICP. Yet there are ways to get credit.
It should be kept in mind that the file is normally an information and not a sanction. Your past financial difficulties should not hinder your future plans. This will be even more true if your name appears in this file in an abusive way or if your file will end in a short time.
To sell off debts
Use of its strength of conviction will be necessary to seek the help of a bank, just like to prove its seriousness with the establishment. But that will not be enough. To maximize your chances of seeing this financing request succeed, paying off your debts will be the best solution. In addition to proving your willingness and seriousness to the financial institution solicited, this will allow you to be deleted from the FICP and thus to more easily access a credit application. Once your debt has been deposited with the institution you have listed, it will take less than two months for your name to be removed from the FICP. You can then apply for credit like any other person and thus see it succeed much more easily.
If you are unable to pay your debts, you will have to be patient and wait until you are no longer stuck. The record never exceeds in any case the 10 years. Another solution is to use a repurchase of FICP credit. This operation consists of grouping your current credits. Inquire, although few, some institutions have made their specialty.
Microcredit and assisted loans
Some organizations such as the Family Allowance Fund (CAF) or the Association for the Right to Economic Initiative (ADIE) can help people who are over-indebted to get back on their feet. Another solution is to use a microcredit. Obviously, microcredit and assisted loans must be used intelligently and not be used to finance travel or recreation otherwise the situation may worsen, but they can effectively help a person wishing to return to a stable situation.
Bank fishing is not a shame, and it is essential to mention its financial difficulties or recurring with official bodies and financial partners. Do not stay alone with your problems. Organizations will be able to help you find solutions so that this problem is solved and you can finally realize your projects.