How to leave Financial Institutions is a fairly recurring question. Do not worry, because you are not the first or the last whose financial needs are constrained by this small setback. Thus, although many of the credit companies with which we work in our comparator do not take this detail into account when granting their loans, it is true that others do value it and may discard us as candidates for a loan for this setback in our history.
Therefore, it is possible that you are already fed up with this situation and are thinking about how to permanently abandon this database so harmful to your interests but without implying paying the debt. A toll that you might consider unfair. In this article we have proposed to explain how to get out of Financial Institutions and also of RAI in a quick way.
In the first place, we are going to explain to you what the Financial Institutions is and what it does.
What is the Financial Institutions?
The database of the National Association of Financial Institutions (Financial Institutions) is the largest delinquent registry in Spain that financial entities usually consult to ensure that they do not run any financial risk or minimize them.
In this way, they anticipate future defaults and work more securely when granting their loans .
These reports include the following data:
- The name of the entity, company or exact persons that have included us in this registry.
- The contact telephone number of these companies.
- Reason why we have been included in the file.
- The amount of the debt.
- Date of inclusion
The truth is that we can end up swelling this list by simple discrepancies with electricity bills, water or the telephone operator whose telephone bills we have left without paying for any reason is justified or not .
In any case, you should know that any debt or default that appears in this database expires after 6 years. Therefore, after this time, this annotation should disappear instantly. It is also possible that our data have ended up in this bank of debtors after an impersonation of personality or for some erroneous data. In these cases, Financial Institutions must be informed to delete our name after having made the corresponding complaint.
How to leave Financial Institutions to ask for a loan?
You should know that Equifax Liberca, which is responsible for managing this database, must notify you of your inclusion in the file. However, you may not have done so. In these situations, it should be remembered that Organic Law 15/1999 grants us the possibility of exercising our right to object . This management can be done with the legal advice of a lawyer. However, nothing guarantees us that the process will be easy and fast. Quite the opposite. On these occasions, compensation is also usually requested for possible damages caused by this inclusion. Although, yes, we have to prove this damage.
In any case, before coming to court, there are other ways to try to get out of Financial Institutions. Let’s see it carefully:
First of all, we can go to the offices of this delinquent registry where they will inform us regarding our debts and credits. Later we can contact the company or the people with whom we have this debt in order to reach an agreement.
However, you may decide to pay, but still your name remains in the delinquent file. In this case, you must follow the following procedure:
- Request the cancellation of the lists you appear on.
- It is very likely that you will be asked for a copy of the proof of payment or a letter accrediting the entity informing you that it is up to date with payment.
- You must submit these proof of payment. If everything is in order, they will send you the official report confirming that the data has been deleted.
Remember that it usually takes a maximum of 30 days to remove you from those listings. If not, you can demand those known as ARCO rights: Access, Rectification, Cancellation and Opposition.
How to leave RAI without paying?
The Unpaid Act Registry (RAI) is another of the most controversial records . It reflects debts greater than € 300.51 . Therefore, there is a substantial difference with respect to Financial Institutions where it is customary to see small amounts for debts that we have contracted with the telephone company or gas, to name a few examples.
On the other hand, in RAI there are many bank notes, checking accounts, checks, bills accepted, among others. As in the Financial Institutions, after 6 years prescribed.