The pandemic has caused difficulties in the payment of debts and in the country there is a deterioration of credit ratings.
The credit rating is a set of methods and techniques used to predict the ability to pay a loan on time by a customer, in a range of 0 to 999 points. A low score indicates risk of default, so having a high score makes it easier to access credit.
To have a good grade, you have to show that you can meet your commitments:
- Paying loan installments always on time
- Catching up on past due obligations
- If it cannot be paid, approaching the entity to request financial relief options
The information that the credit bureaus take into account is that which comes from:
- Banks, cooperatives, mutuals, public and private
- Public and private services, such as water, electricity, telephone, cell phone, internet
- Commercial houses that offer the possibility of paying for purchases in installments with direct financing
- Insurers
- In general, any company or person that sells its products or services on credit and records accounts receivable
In the bureaus there is the information of every person, natural or legal, that registers a credit operation: obligations, antecedents, financial, commercial or contractual behavior. According to the fulfillment of the current and historical operations (up to 36 months ago), the analysis is carried out and the credit information report is generated.
If you are one month late in paying a fee and you see that you will not be able to continue paying, approach the entity to make new agreements, since the information is processed on a monthly basis and will be immediately reflected in your history. Remember that access to credit does not depend on the assets you have but on your willingness to comply and prompt payment.
The most important step in meeting your financial obligations is organizing your income. Use this simple tool to see where you spend the money and what you can reduce or eliminate to use it to pay debts.
