The Credit bureau has been linked for a long time, is that it is a ‘blacklist’, in which people who do not pay or owe a loan are given a bulletin. However, reality is not like that, what we know as ‘Credit Bureau’, is a Credit Information Society. The other that operates in the country is called ‘Círculo de Crédito’.
Private companies, which receive information from those who grant loans and the transformation of credit historiesthe foregoing with the purpose of managing the risk of the own credit grantors.
The financial entities that give loans use the records of the people physical and moral that are in the bureau to evaluate and determine (along with other factors such as age and income) whether or not to lend you money.
The Bureau is not bad, if you have or have hired some kind of consumer, business, mortgage or automotive credit; any departmental card; a telephone service or pay television, your information and payment behavior will be reflected in the credit history.
Lending institutions report monthly the way in which pay your credits, be punctual or present delays, that is, it reflects the good and the bad. If your credit history is good, it will open the doors to future loansOn the other hand, if it is bad, it will close them.
By law, you have the right to request your free credit report once every 12 months. Other services offered by Credit Bureau are “My Score” and “Bureau Plus Alerts”the first summarizes your credit history in a score ranging from 400 up to 850 points, and it costs 58 pesos.
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Can I leave the Credit Bureau?
- To be erased from the Bureau, Law 2 is clear, depending on the amount is the time that record is kept:
- Debts less than or equal to 25 UDIS are eliminated after one year.
- Debts greater than 25 UDIS and up to 500 UDIS are eliminated after two years.
- Debts greater than 500 UDIS and up to 1,000 UDIS are eliminated after four years.
- Debts greater than 1,000 UDIS are eliminated after six years as long as: they are less than 400,000 UDIS, the credit is not in court and/or you have not committed any fraud on your credits.
If you had delays or non-compliance, you don’t have to wait for the information to be deleted to improve your credit history. If you catch up, this will be reflected in your history and will show that you are complying with your payments.
If you do not agree with the information in your Credit Reportyou can file your claim at burodecredito.com.mxyou are entitled to two free claims per year.
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