When we have problems dealing with the payment of our debts, we look for different alternatives to prevent it from becoming more difficult to pay. So we can choose options such as refinancing, buying debt, freezing debts or rescheduling debts. However, when choosing one you have to think about how much this decision affects our credit history.
Debt rescheduling, what you need to know
In this publication we want to focus on debt rescheduling and that you can know how this option may or may not affect your credit historySo you can make an informed decision.
Does rescheduling my debt affect my credit history?
No, rescheduling is one of the options that financial institutions offer you, to deal with your debts, without affecting your credit score. However, there are requirements so that you can reschedule a debt, the most important is that you are up to date on your payments and have not fallen behind in the monthly payment. In that sense, you must request rescheduling before your payment deadline.
Is it better to reschedule or pay the minimum amount?
If you consider that you will soon have the money to pay your debt, it is better to request rescheduling, since the payment of the minimum amount for the month pays a higher percentage of interest and commissions on the credit or loan than the amount borrowed.
What to do if I am already behind in paying my debts?
Delays in the payment of debts cause the financial institution to generate a report before the SBS and risk centers, which changes your credit score, therefore, it is important that, if this happens to you, you solve your situation as soon as possible.
If you lack time to collect the total money you owe, we recommend the program My board of alDía. This program is made for people who have past due debts for more than 60 days for a minimum amount of 1,000 soles.
With this program we group other people in the same situation as you, so that they save on a monthly basis to a protected account, thus generating an individual fund that allows us to negotiate better conditions for the payment of their debt. You want to know more? Contact us for more information!