if you have a credit with a bank or a store and you have delays, surely you are in the Credit bureau with a negative report, to get out of them there are several options.
The one who gives you the credit has to report once a month what you did with him, if you paid on time or if you defaulted, there is no way to clean your bureau by magic, you have to pay your debteither with restructuring or with removals or getting up to date with your payments.
¿How to clean up my Credit Bureau?
Wolfgang Erhardtspokesperson for the Credit Bureau explains that there are 3 ways to clean your Credit bureau.
He explained that the first is to catch up current on your paymentsthat is, I pay again at least the minimum that they ask me and I do it on time no later than 10 calendar days, the payment history will say that I was a few months late, but that is fine again.
At this point, for them to lend you again, what they want is for you to continue with those good forward payments so that you have more number ones each month, and thus establish a positive payment trend that outweighs the delays you had in the past. .
To other companies that like more risk, perhaps they will lend you after a delay, but since you are more risky than a person who always complies, there is a probability that they will lend you less of the loan, and that it will be for a longer term short and may have a higher interest rate.
Restructure your credit
He warned that if the minimum cannot be paid on time, the second option is to restructure the credit, and it is done by going directly to the company that gave you the financing and the restructuring can be in several ways, one is that in Credit cards It implies that the institution that gave you the card freezes the card, so that you no longer spend with it, and the debt that you already have in that product will be fragmented into small monthly payments that will make it easier for you to get rid of that debt, without generating any kind of bankruptcy.
If you enter into a restructuring in your payment history as long as you continue to comply, you recover your qualifications and they will put an observation that consists of two letters, what does it mean that your credit is restructured, in the end, that is the observation key, which all it does is tell the story of what is happening with you credit as you lower your level of debt, it will be very easy for them to unfreeze it so that you can use it again or that they lend you for a new credit and when your financial health is better.
What are take aways?
The last alternative to clean up your credit is the removals, which you can ask for or they can offer you, it is a discount on the debt that you have, which is a loss for those who it pays.
Being the report of Credit bureau a reflection of your good, bad, and regular decisions, what it will say is that if your debt is $20, they offered to pay $12 and forgive you 8.
If you meet the $12 that they requested, the report will be updated no later than 10 calendar days to say that there was a loss for the institution that lent you $8, which was the discount what did you get
“If you asked for a credit once again, you also hurt your chances of obtaining new financing, because you have just generated a loss for an institution, this reduction is only good when there is no other, I would try to redo my budget first to catch up, if it is not enough I would restructure my debt And if it is not possible for me, even if it is, I would pay the deduction, because at least the credit is closed and no more late payment interest is generated that will make your debt bigger, and more payment data will continue to be recorded in your report of credit of the bureau”.
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In order not to have any problem payment slip and that they do not call you because you are not complying or you generate default interest, the best thing is that before requesting a loan you have to do several things and none of them costs money, the first thing is a budget so that you yourself know how much you can allocate per month in a credit.
