Before entering the topic, it is important to say that there are many false profiles on social networks, so I will list the correct ones first: on Facebook the profile is called “Buró de Crédito México”, on Twitter “@BuroDeCreditoMX”; on Instagram “burodecreditomx”; on TikTok “burodecreditooficial” and on YouTube “Buró de Crédito”. Let’s now move on to the three most frequently asked questions on these networks:
- When do they take me out of the Bureau?
On this subject, the Law to Regulate Credit Information Companies and the Banco de México Rules establish the following:
Credits with debts of less than a thousand UDIS are eliminated according to the following rules:
- From 25 UDIS or less, but more than 0.00 pesos as a current balance, they must be eliminated after twelve months.
- Between 25 and 500 UDIS as current balance will be eliminated after two years
- Between 500 and a thousand UDIs as the current balance will be eliminated after four years.
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If the record reflects current balance 0.00 pesos, it is not eliminated because there is no minimum amount necessary and it is only informative.
In these cases, the term for the elimination of credits starts from the first time they were reported as overdue or the last time the grantor updated information about them.
Loans with debts between one thousand and 400 thousand UDIS are eliminated after six years of being in the Credit Bureau as long as the credit is not in judicial process or that the owner of the credit has not committed fraud in any of his credits.
If there is a pending debt, the period for the elimination of the records begins to run from the date of the first payment default.
To know the estimated date of elimination of a closed credit, just check the summary of credits within the Special Credit Report of the Credit Bureau which can be obtained for free once every 12 months through the Credit Bureau App available for all smart cell phones or on the page https://www.burodecredito.com.mx/reporte-info.html
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- How can I correct a data in my Special Credit Report?
If you detect an inaccuracy, do not recognize any data, or do not agree with any record, you can file a Claim with the Credit Bureau; you have the right to enter two claims a year totally free. Once the Claim has been entered on the website https://www.burodecredito.com.mx/reclamaciones-pf.html, you will be assigned a page and a legend will be included in your history that indicates that the record in question has been challenged. Within a period of no more than 29 calendar days, you will receive the resolution given by the credit grantor.
In the event that the Claim is in your favor, Buró de Crédito will update the report and send you a copy; It will also send the update to all those credit grantors who have consulted your report in the last six months. If the credit grantor decides that the Claim is inadmissible, Buró de Crédito will send you the evidence that the credit grantor has sent to support the judgment. You can re-enter a new claim if you like and you can also include a Declaration of up to a thousand words in your report, for free.
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Alternatively, the borrower can file a claim directly with the corresponding credit grantor or file a claim with Condusef for financial credits, with Profeco for commercial credits, or with Prodecon for tax credits.
- What credit is good for me?
The one you need and the one you can afford. Review well the costs, attributes, terms and conditions of various credits so that you choose the best. If you want to know which participating institution is interested in granting you a credit card or a personal loan, Buró de Crédito helps you. Use the Acredita-T service for free at https://www.burodecredito.com.mx/acreditate-info.html
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Contact:
Wolfgang Erhardt is a national spokesperson for Buró de Crédito, spokesperson for the Latin American and Caribbean Association of Credit Bureaus, and author of the book “I want a credit! How to get it and keep it ”.
Twitter: @WolfgangErhardt
LinkedIn: Wolfgang Erhardt
The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.