When did Banca Ifis adopt the new definition of default?
Banca Ifis applied the new rules as of 1st January 2021.
From this date, the indebtedness of a client undertaking, if the payments past due exceed the threshold envisaged by the regulatory framework, is reported to the Bank of Italy’s Central Credit Register as a non-performing activity and this could have negative effects on their ability to access credit, such as, for example, the difficulty to obtain new loans.
It is, therefore, fundamental that contractually envisaged payment deadlines be strictly complied with and that you are not late with payment of your debts, even if they are of a small amount.