CRIF supports the legal departments of banks and financial institutions in their legal credit collection activities and in clearly defining assets (real estate or personal property) that can be potentially be claimed.
The entire legal credit collection process can be outsourced to our team of professionals: from obtaining a court order to property valuation, and registration of the mortgage or foreclosure.
 
The range of services offered, which can be tailored to the needs of individual departments, comprises:

Optima Legal Search

This is a detailed property information search involving the consultation of registration notes as well as titles submitted to Land Registers, making all the necessary mortgage and land registry information available for prior analysis of the effectiveness and suitability of proceeding with any type of legal action.
In this way the service gives a quick and accurate picture of the assets of a subject and precisely identifies the properties owned by the subject or over which he/she exercises rights, highlighting any direct and indirect encumbrances.

20-Year Reports and Notary Certification

The 20-Year Report is a document summarizing the 20 year history of a property, therefore enabling you to check if the property is free from encumbrances, including those registered to previous owners, and to assess the suitability of proceeding with forced legal repossession. CRIF's supply network, which also includes a network of notaries, guarantees that timescales and required quality standards are met.
The 20-Year Report precedes Notary Certification, which is indispensable for the sale of repossessed property at auction.

Property Valuation

CRIF property valuations are carried out to assess market value and therefore to find out in advance the potential amount that can be collected.
Valuations are performed by a network of over 550 expert appraisers from the CRIF Property Valuation team, based on available land registry and planning documentation and an external inspection of the property.

Debtor Tracing
 
In the event that no suitable property for foreclosure is identified, CRIF performs a search of personal property for which a claim could be made through debtor tracing, gathering information through the company CRIBIS Credit Management, which is licensed for this type of activity (private investigations).
The type of information obtained through this service is indispensable for those wanting to proceed with the seizure of personal property.
 
Legal Collection

Using its national supply network, CRIF carries out all the credit collection activities necessary for the seizure of real estate/personal property or from current accounts/deposits.

For the real estate market, for example, CRIF can manage the entire process leading to sale by auction of a property, from the debt collection proceedings with court order to enforcement, with the preparation of all the required documentation.

Management of the seizure of personal property or from current accounts/deposits
Whenever the debtor does not own real estate, or where the amount due is of a low order, it is also possible to look at the seizure of personal property of the debtor or collection through current accounts or other deposits. CRIF also can deal with the necessary activities in this case, from the sending of the payment order to enforcement procedures.
 
A complete and integrated service
The key benefits of CRIF legal services:

  • Guaranteed reliability and completeness of the information provided thanks to a network covering all Italian Land Registry Offices
  • The only operator on a national level able to manage all stages of the process
  • Many years of experience in real estate analysis for legal departments within banking institutions and leading companies in the sector
  • Compliance with legislation: data protection, license for debtor tracing activities, adherence to ABI guidelines on the valuation of property used as collateral
  • Clear, fixed costs, applicable across the whole of Italy
  • Centralized process monitoring
  • Standard report format providing easy-to-use information