For state workers who have a mortgage loan in FOVISSSTE and present a debt, it is common for them to think that this will be reported to the Credit Bureau, But how true is this and how it will affect your finances.
Can FOVISSSTE send me to the Credit Bureau?
One of the most frequent doubts that the beneficiaries of FOVISSSTE (Housing Fund of the Institute of Social Security and Services of State Workers) have, when present a debt is to know if your credit It will be reported to the Credit Bureau.
Although, since 2014 they have tried to implement that the FOVISSSTE report their delinquent borrowers to Credit Information Companies such as Buró and Círculo de Crédito, no consensus or specific communication has been achieved in this regard. However, in the Strategic Business Plan 2020-2024, FOVISSSTE does contemplate reporting its delinquent heirs to Buró.
Despite this, if your mortgage is co-financed with a bank or Sofome and you have debts on your credit, these yes they will be reflected in your credit history, since these institutions are obliged to share this information, which hurts you in obtaining future credits.
What are the consequences?
Remember to present overdue debts on your credit FOVISSSTE will cause the amount of your unpaid balance to increase due to the interest that is applied, added to the annual update of the UMA that is presented in February of each year, which will cause your financing to increase considerably.
In addition, the discount of 30% of your salary not necessarily the minimum amount required to comply with your payment obligation, therefore you must review your account statement to make sure you pay your credit or, failing that, make extra payments to avoid debts.
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