If you fear being in the data collection agency that collects creditor accounts, we will tell you who these people are, that before the new law, with only 10 days, they could leave the blacklist from the credit bureau.
When looking for debtors to get out of the bad rating they have in the Credit Bureau, the deputy of Movimiento Ciudadano in Nuevo León, Iraís Reyes, proposed the initiative to make the history of “the black list” clean in just 10 days.
Thus, with the purpose of eliminating the bad credit history, in a quick way, before the new reform of the law that seeks to promote, the deputy pointed out: “We are presenting a reform to the Law to Regulate Credit Information Companies, that is, the Credit Bureau“.
With the reform to the Law to Regulate Credit Information Companies, the deputy shows that she understands that many people go through difficult times, and being in financial uncertainty, they can no longer apply for other credits, whether they are requesting loans or money.
Although, in the institution that is in charge of registering the credit history, they can be registered in the black list from 1 to 6 years, but, with the new law, It is sought that after settling the debts, the bad record is eliminated in 10 days.
This is the time it takes to delete people from the famous black list, contemplating the Investment Unit according to the Bank of Mexico:
- Debts less than or equal to approximately 200 pesos are eliminated after one year.
- Debts greater than 25 UDIS and up to 500 UDIS (from $200 pesos to $3,835) are eliminated after two years.
- Debts greater than 500 UDIS and up to 1000 UDIS (from $3,835 to $7,670) 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 (almost 3 million pesos), the credit is not in judicial proceedings and/or you have not committed any fraud on your credits.
Credit bureau
Nobody wants to be in the credit bureau, because they fear being part of a black list of debtors, however, its function is not to approve or reject credit, but rather, by being registered, creditors can see your history.
The Credit Bureau, becomes a headache for many, therefore, everyone seeks to have a correct financial administration, before the non-payment is updated and the MOP key (Payment Month), reflects the credit history with debt arrears.
Although, according to the Law to Regulate Credit Information Societies and the General Rules issued by the Bank of Mexico, it is necessary to wait a while for the status to change when you reach a negative rating in the Bureau, since when you want to buy in department stores or ask at the bank, they ask for credit, and seeing if you are a good or bad payer depends on the benefits.
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