The National File of Credit Repayment Incidents to Individuals (FICP) is a computer file supplied by credit institutions, managed by the Bank Francia. It is initially intended to strengthen consumer protection against over-indebtedness. For those registered, it becomes impossible to obtain a new consumer credit. Let’s look at the causes of FICP registration, and especially how to get out.
FICP file: 2.5 million French people concerned
No less than 2.5 million French people were on the FICP file in 2017, according to official figures from the Bank Francia. This file concerns people:
- Overdue by more than 60 days (or two deadlines) in the repayment of a loan.
- Who have filed an over-indebtedness file.
- Whose debt is still greater than $ 500 60 days after a formal notice.
Whatever the situation, financial organizations must notify 30 days before triggering a request for FICP registration with the Bank Francia. However, this delay does not always allow the situation to be rectified in time.
How to get out of FICP?
If a registration in the FICP file still allows access to a bank account, it is detrimental for several reasons:
- Unable to get new credit online or at a branch.
- Possibility of being refused a bank overdraft.
Debt settlement is the only way to write off the FICP before five years. The settlement of debts must in this case be communicated by the organization or the bank to the Bank Francia, before the fifth day following. An early exit is also possible if an over-indebtedness procedure is executed without incident. Once the stage situation (debt settled or erased), the Bank Francia is responsible for quickly removing the name from the list. It is again possible to apply for a personal loan, car loan or even a home loan.