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How long have I been reported to the bureau for a debt?

If you’re worried about how long it takes for a financial institution to report to the credit bureau, beware! The first thing you should know is that, for the simple fact of requesting any loan, you are already in the credit bureau.

What really matters is the rating you have in the Credit Bureau. If you stop making a payment it will be reflected as a delay in your debt, and this report is sent monthly to the banking institutions, this in order for them to value the credit subjects and know if you are a satisfied customer or not in your payments, this is taken into account before granting you another credit.

 

What types of credits report to the Credit Bureau?

What types of credits report to the Credit Bureau?

This report applies to all types of credit, regardless of whether it is automotive, mortgage, payroll or consumer credit (even a cell phone plan!), While it is done through a credit card.

 

What happens if I do not pay a loan?

unpaid loan

The financial institution comes to legal instances for you to make the payment, in case it does not work either, or you declare “impossibility of recovery of the credit”, then it is considered past due portfolio and eventually the financial institution must absorb it.

The institutions that are most owed, until 2015, were: Banco Inmobiliario Mexicano, Banco Ahorro Famsa, BanCoppel and Banco Azteca.

 

What do I do if I no longer have money to pay a debt?

What do I do if I no longer have money to pay a debt?

In case you have a hurry of money or it happened to you to make the payment in time, we suggest you:

  • If you know that you will be delayed in your subsequent payments, then go to the financial institution where you owe so that an agreement is made to restructure the debt and you can pay in more monthly payments, with smaller amounts, although this implies that You end up paying in a longer term, for example.
  • If you want a new credit, even to pay debts, the ideal is that you finish paying the one you already have.
  • Change your consumption habits so you can pay your credit early. Eye: consult if you have to pay fees for advance payments.
  • Compare the costs of credit in different institutions and assess whether changing your institution credit suits you to be able to pay off the debt as soon as possible.
  • If you receive an extra income as a bonus, the bonus, the payment of overtime; then pay it to your debt, so that you reduce it or finish it before paying, but in the same way verify if you are not going to receive a commission for it.