be inside the Credit bureau It is not about entering a black list of people who do not pay their debts, in fact, all the people who have ever accessed a loan are in a database that records the history of debt payment behavior with companies or financial institutions.
To consult your behavior in the payment of the loans that you have acquired in your life with financial institutions, such as banks, fintech, sofomes, etc., or commercial entities such as department stores, pay television, telephone companies, even loans with universities, there are credit information companies that collect this information, whether positive or negative, such as the Credit bureau Y Credit Circle.
The credit report it is delivered free once every 12 months, after this it has a cost of around 35 pesos if it is requested through the web pages of credit societies, if the credit score is added to the query, the cost increases.
Once the personal information is registered, they will answer a questionnaire about a credit product they have, they will attach a payment method even if it is the first report requested (the charge will be canceled) and after that the file can be downloaded from the page of the society or from the added email.
If you have a credit card, to expedite the process, it is important to correctly place the credit line of this, if it is done incorrectly, the file cannot be shown. You will also wonder if you have any current mortgage or car financing.
Within the information provided in the report you will find a summary of credits with financial institutions, on the right side a date is placed that represents the behavior of both active and closed accounts; the green color indicates that it is up to date with payments, the yellow delay from 1 to 89 days and the red delay greater than 90 days or uncollected debt.
Wolfgang Erhardt, vocero de Credit bureau He explained that the observation keys reflect the delay in payments, regardless of the amount owed, which may well be from one peso to larger amounts, that depends on each institution that reports its database to these information societies. credit.
After the general information, there is the detail of the debts in financial institutions and commercial, with the payment history and an observation key, which goes from 1 to 9, where one means current account, 2 accounts with arrears from one to 29 days; the 3 delays from 30 to 59 days; 4 non-payment from 60 to 89 days. From 5 to 8 are the keys that are given to loans that are arrears from 90 days to 12 months and 9 concentrates arrears of more than 12 months, accounts with partial or total debts without recovering or consumer fraud.
In addition to data on credits acquired, the details of inquiries to the bureau carried out by institutions or companies that have reviewed the information to provide some financing.
Financial or non-financial entities, when consulting people’s credit reports, define whether they are creditors of financing or limit the amount that they could grant. In other words, despite the fact that you have some delays in payments, you could obtain financing, but with conditions adjusted to your profile.
“The greater the accumulated delay in one or several loans, the fewer entities will be interested in lending, because it is riskier, probably the credit they grant will be smaller, with shorter terms or higher interest rates or they will ask for guarantees or endorsement” explained Wolfgang Erhardt, spokesman for the Credit Bureau.