The Credit Bureau It is terrifying for many. It became a trend yesterday Thursday, after a version about the alleged illegal sale of information of clients, in their databases, of the year 2016.
The occasion serves to remember the dynamics of “being” in the Credit Bureau and how to “get out” of it.
Credit Bureau: It is not a blacklist
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 put in a bulletin.. However, reality is not like that, what we know as a “Credit Bureau” is a Credit Information Society. The other one that operates in the country is called “Círculo de Crédito”.
These are private companies, which receive information from those who grant credits and transform it into credit histories, the above in order to manage the risk of the credit grantors themselves. The financial entities that grant loans use the records of the natural and legal persons that are in the Bureau to evaluate and determine (along with other factors such as age and income) if they lend you money or not..
Appearing in the Bureau is not bad, if you have or had contracted any type of consumer, business, mortgage or automotive credit; some departmental card; a telephone or pay television service, your information and payment behavior will be reflected in your credit history. The credit institutions report monthly the way in which your credits are paid, if you are punctual or present arrears, that is, it reflects the good and the bad. 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..
It is necessary that you request your credit history periodically, to detect any anomaly such as the appearance of credits that you did not request, misinformed payments or unauthorized inquiries to your history. By law 1, you have the right to request your free credit report once every 12 months. Other services offered by the Credit Bureau are “My Score” and “Buró Plus Alerts”, the first summarizes your credit history in a score ranging from 400 to 850 points, and costs 58 pesos. For his part,…
Continue reading: Hacked Credit Bureau: How long does it take to delete me from the registry?