What do companies take into account to qualify a person as a good or bad payer?

For the purchase of a vehicle or a house, families consider acquiring a loan or having to save money for a time to reduce debt.

The monetary value is exactly what people first observe without taking into account their credit history that can affect that goal. Sometimes this slows down the process to get a loan from a financial institution.

Honoring debts is key to having a good credit history, this will allow you to more easily access various products that allow you to finance your objectives.

What is the difference between the credit bureau and the credit bureau?

Finance specialists have reiterated that it is not bad to go into debt, the harmful thing is to exceed the limit that our economy allows and not meet your debts on time. “We should not be in debt beyond 40%,” explained Javier Merino, MBA and commercial engineer specialized in finance.

To designate a person as a good or bad payer, financial entities review their credit history and the score that has risk. Precisely the percentage that is reflected there, and that is plotted through a traffic light, allows them to determine if it is a person who complies with the financial obligations acquired.

This information will also be available to the user through the Superintendency of Banks or different credit bureaus. The higher the score, the lower the probability the person has of falling into default.

Can they put me in jail for a debt?

If a person has a score of 107 points it means that they have an 85% probability of falling into default. If the score is 980 points, your probability of being in default is 1.3%. These are two examples given by the Superintendency of Banks.

To improve this score, people must initially be up to date on their payments and avoid falling into default, in case they exceed their monthly capacity to pay the debt, they can make payment agreements with the financial institutions that granted them the money.

You must bear in mind that this registry not only includes financial entities but also the operations that you carry out with commercial houses, which will decrease or increase your score. (I)