A myth that has been linked to the Credit Bureau for a long time is that it is a “black list” in which people who do not pay or owe a loan are notified, however, the reality is very different.
What we know as “Credit Bureau”, is a Credit Information Society and appearing in it is not bad and today we are going to explain to you if there really is an official amount to appear in it.
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How much should my debt amount to appear in the Credit Bureau?
In accordance with the Condusef, There is no exact debt figure to appear in the Credit Bureau, people think that they “enter” the Bureau until they become debtors, but that is not true.
All people who have some credit history already appear in the Credit Bureau, for example:
- If you have or had contracted any type of consumer, business, mortgage or automotive credit
- If you have any departmental card
- If you have a phone service
- If you have a pay TV service
In other words, your information and payment behavior for any of these services will be reflected in your credit history.
Why is the qualification in the Credit Bureau important?
Now, what is important is the qualification that you could have.
Lending institutions report monthly how your credits are paid, whether you are punctual or present delays, that is, the good and the bad are reflected. If your credit history is good, it will open the doors to future credits, on the other hand, if it is bad, it will close them.
A customer can regain a good rating if he catches up on his payments. The time you have the debt and the amount of it also influence.
Can I leave the Credit Bureau?
To be removed from the Bureau, the law 2 is clear, depending on the amount is the temporality that record is kept:
- Debts less than or equal to 25 investment units (UDIS), equivalent to 184.5 pesos, are eliminated after one year.
- Debts of up to 500 UDIS, equivalent to 3,690 pesos, are eliminated after two years.
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Debts of up to 1,000 UDIS, equivalent to 7,380 pesos, are removed from the history after 4 years.
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- If your debt is greater than 1,000 UDIS, they are eliminated after six years, always under the following conditions: said debt must not be greater than 2,724,000 pesos, your credit must not be in court, and you must not have committed any fraud. in your credits.
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