What is the no-debit letter and why should you request it?

Good financial health is important. Not only for our economy, but also for our well-being; After all, debt creates problems like stress, anxiety, and even depression. Did you know that errors or omissions can occur in the financial system that can affect the way banks see you? One of them is that the bank to which you owed money has not updated the settlement of your debt before risk centers or the SBS. So that this does not happen to you, it is important that you request your no debit letter.

What is the no-debit letter?

no debit letter

The no debit letter It is a document that states that the debt we had with a financial institution has been canceled. For this reason, it is an official document that must be provided by the bank, box, etc. Who we owed money to.

Next, we will talk a little more about the no debit letter, as well as how to obtain it.

The no-debit letter is not only requested from financial entities

learn more about the no-debit letter

Although it is the most common case, the no-debit letter is not only the responsibility of financial entities, but also telephone companies, municipalities, commercial houses, etc. This is so since, in credit bureaus such as Equifax, these debts can also be reported if it falls into arrears.

If these debts are reported and you cancel them, but the creditor does not update your information, for the risk center you can continue to appear as delinquent, which will affect your credit history.

The no-debit letter allows updating the information of credit bureaus

benefits of the no-debit letter

There are two ways to inform credit bureaus such as Infocorp, which it is You need to update your credit information because you have already paid off your debt. One is the one mentioned above: that your creditor notify you that your debt has been paid. The second is that you approach the credit bureau with your no-debit letter so that the information can be updated. Keep in mind that only your creditor can provide you with this letter, so don’t wait to go to Equifax, Sentinel, or SBS to get it.

What to do if you do not know how to request your letter of no debit

request face of no debit

To obtain a letter of no debt with your creditor, you must send him a letter with that request. It will depend on each entity if the letter must be sent in physical or virtual format. After this, if the request proceeds, the letter will be physically sent to your address so that you can then take it to the corresponding risk center so that the information can be updated.

If you need help to manage the letter of no debt that you require, at alDía we can help you. Our program Pool Not only does it allow you to cancel your overdue debts with a single payment, it also helps you manage your letter of no debt and makes it easier for you to reintegrate into the financial system. Contact us for more information!





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