WHAT IS IT AND WHAT IS IT FOR? CREDIT BUREAU?
The Credit Bureau is a credit information society that collects information linked to the credit history of natural and legal persons, functioning as a reference framework for granting loans in Mexico. Its purpose is to store all the information of our profile as payers through the data provided by commercial companies, financial entities and SOFOMES ENR (Multiple Object Financial Companies), in order to facilitate the solvency study of loan applicants . In Mexico, the management of these files is carried out by two private companies: Credit Bureau and Credit Circle.
WHY WE APPEAR IN THE CREDIT BUREAU
To be on a credit bureau you just have to have had some type of debt. In this way we can be registered only for having contracted some type of loan, credit card or service. The important thing is not whether or not we are in a credit bureau, the really important thing will be in what situation our credit profile is. Depending on our activity as payers we will have more or less options to obtain financing. In the event that we do not have a registered credit history, because we have not requested previous loans, the credit companies will consider how to act so that we can demonstrate our solvency capacity. In any case, when we know that our credit history is negative, this situation should be repaired as soon as possible, for which it is important to know how to leave the Credit Bureau.
WHAT COMPANIES MANAGE THE CREDIT BUREAU IN MEXICO?
CREDIT BUREAU and Círculo de Crédito are the companies that store all the credit information with useful data to assess our financial situation. Both companies offer us the possibility of consulting our credit bureau situation and requesting our special Credit Report among other specialized services. Credit bureau Credit Bureau arises in order to provide the credit information of legal entities and individuals in order to provide a solution to the Creditors and Consumers to manage the credit risk
DID YOU CREDIT DECIDE IF OUR ONLINE LOAN IS APPROVED?
No. The Credit Bureau has no power of decision to grant or deny an online loan application This is a decision that only corresponds to the financial institutions themselves, taking as reference the information provided by the bureau based on their policies for granting their credits. In any case, having a bad score in the credit bureau will hinder our chances of obtaining financing. Therefore, it is important to have no doubts about how to know if I am in the Credit Bureau to be able to repair the status of our credit history if necessary.
HOW DO I GET IMMEDIATE PERSONAL LOANS WITHOUT CREDIT?
The wide range of personal credit organizations that have their own scoring system makes it possible for us to get a cash loan without checking the credit bureau. However, credit companies that grant loans online without a bureau do so by reviewing other requirements with which they ensure that we can make the repayment payment without inconvenience. Although many companies grant loans without a bureau, it is advisable to know that interest rates will be higher the worse our profile as a payer. We should also know that the financing conditions offered will be more restrictive. Therefore, it is important that we repair our profile as payers by paying all of our outstanding debts as soon as possible. A repair of our credit bureau profile will expand our options to get the credit we need.
REQUIREMENTS FOR APPLICATION OF URGENT MONEY LOANS WITHOUT BURÓ
The requirements to apply for a loan online without a Bureau will depend on the internal policies of credit companies. However, the majority of companies that grant loans without a bureau agree on the need to demand sufficient guarantees on our solvency capacity. In general, companies that grant loans online without Bureau will coincide when asking us to meet the following requirements: Have an age range between 21 and 65 years. Although in some cases it will be possible to get a credit from the age of 18 as long as we can prove that we have sufficient income every month. The official accreditation of our identity and address. Have Mexican nationality and that our fixed residence is in the country. Have a source of demonstrable monthly income with which we can prove our solvency. Have a good credit history or good credit bureau score. Be the owner of a bank account where we can receive the requested amount. Provide a mobile number and contact email.
DO I HAVE TO REQUEST AN IMMEDIATE LOAN WITH NEGATIVE SCORE?
We must attend to our sense of responsibility and not worsen our financial situation by contracting new debts that we cannot face. Therefore, when we have a bad score or credit bureau score due to the accumulation of several outstanding payments, it is not recommended to increase our indebtedness with the request for new loans. In any case, it will depend on ourselves that we are able to recognize in which cases it is convenient to request a loan without a bureau, based on our personal economic situation and solvency capacity to face the repayment of your refund without problems.
WHAT DO YOU DO IF YOU REJECT OUR URGENT LOAN FOR BAD?
Sometimes it happens that the entities granting urgent loans reject our applications, considering that our negative credit history does not provide sufficient guarantees to face the payment of your return. However, if an entity rejects our credit application, it will not prevent us from applying a new application to another lender with more flexible financing conditions. Therefore, in cases where our urgent loan application is rejected, it is advisable that we compare other offers with new, more favorable conditions for bad records. In any case, it will be necessary to attend to our sense of responsibility and not generate more debts that we cannot face, making our risk profile worse.