coppel is known for providing credit alternatives to customers who want to buy items that are difficult to pay for immediately. However, this has led to some of his clients being unable to settle their debts. In this sense, we will provide you with information on the term for your credit bureau history to be deleted.
How long does it take to eliminate your credit bureau debt?
Although article 23 of the Law to Regulate Credit Information Companies stipulates that a debt must be eliminated within a period of six years after a continuous payment default or after the first period of non-payment, in the case of credit card customers coppelthis debt may remain longer if the store continues collection efforts or takes legal action against you.
It is possible that a Coppel’s debt be removed from Credit bureau after six years. However, this will depend on the store’s decision, because they could keep the debt for a longer period, even up to ten years or more.
Even if the debt does not appear on your credit history, it will still be registered in the department store’s system to prevent you from obtaining future credits and to pursue the payment of the debt, which will increase with the late payment interest day after day.
However, there is an option to reduce the time spent in the Credit Bureau if you have a debt with Coppel. This will depend on the amount you owe to the establishment. For example, for debts less than or equal to 25 UDIS or $194.5 pesos, the debt will be maintained for one year.
For amounts from 25 to 500 UDIS or $389 pesos, the debt will remain for two years. If the debt is from 500 to 1,000 UDIS or $778 pesos, it will be kept for four years. In the case of debts greater than 1,000 UDIS or $3.1 million pesos up to 400,000 UDIS, the debt will remain for six years, as long as it is not involved in a judicial process or it is a credit fraud.
This will give you a better understanding of the timeframe in which your Coppel balance will be removed from your credit history, if not, it will give you the opportunity to explore the possibility of a debt restructuring In order to improve your grade in the Credit bureau.
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