Thursday 19 May 2022

Financed Appliances And Telephones Would Be Part of New Credit History

Government measue to include direct retailer financing for appliances, telephones and other consumver goods would help prevent household indebtedness

Paying the bills

Latest

Jill Biden visits Costa Rica this weekend

QCOSTARICA - The first lady of the United States,...

Rodrigo Chaves and journalists clash for the truth. Who is lying?

QCOSTARICA - In the second week of the new...

Gasoline would drop by ¢28 and diesel by ¢43 due to changes in Aresep’s methodology

QCOSTARICA - As the headline reads, we are in...

President: If the extension of ruta 27 is in the contract “we will enforce it”

QCOSTARICA - What will happen to the expansion of...

If Latin America has a commercial capital, it is Miami

Q REPORTS (Economist) For Joan Didion, an American essayist,...

Pilar Cisneros: “The government should be totally open to the press”

QCOSTARICA - The press must have access to public...

Arrival of tourists from the U.S. and Europe recovers

QCOSTARICA - Costa Rica registered for April 2022 the...

Dollar Exchange

¢670.23 Buy

¢675.98 small> Sell

19 May 2022 - At The Banks - BCCR

Paying the bills

Share

Purchases of appliances and electronics, among others, financed by a retailer would be included in the credit database compiled by the Superintendencia General de Entidades Financieras (Sugef) – General Superintendence of Financial Institutions (Sugef), under a proposal by President Carlos Alvarado.

The government wants to encourage debtors to keep up to date with their debts, promoting a better payment culture and avoiding future levels of over-indebtedness

Currently, direct financing by retail stores, unregulated financial companies and telephone companies, among others, is not part of the Centro de Información Crediticia (CIC) – Credit Information Center.

The idea is that these loans be required to be reported their clients’ credit history as a measure to avoid over-indebtedness.

- Advertisement -

Consumers, on the other hand, will be able to do better financial planning by having access to the data of their consolidated debt, while creditors will know the true capacity of payment of the clients.

Financial institutions can now consult the debts of people in private bureaus such as Datum (Equifax), Teletec or Trans Union.

A bank can even reject a person’s request if a retail debt appears in one of the bureaus. However, it would become more complete, reliable and official information by forcing businesses to give these details to the Sugef, which would be included it in a database called the “Módulo de Consulta”.

“There are bank officials who, in order to approve a loan, ignore those credits that appear in the bureaus; with the reform, now they are going to have to take them into account when analyzing the person’s ability to pay,” said Ernesto Solano, a lawyer at the Oficina del Consumidor Financiero (OCF).

This will encourage debtors to keep up to date on their payments, promoting a better payment culture and avoiding future levels of over-indebtedness that today weigh on many households, according to the text of the proposal that was presented within the government’s credit rescue plan.

- Advertisement -
Paying the bills
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Borrowers in dollars with income in colones face greater difficulties in paying their loans

QCOSTARICA - Borrowers in dollars who earn in colones face greater...

Banks fill up with foreclosed properties as collateral for bad loans

QCOSTARICA - Before Semana Santa (Easter) 2020, the pandemic forced Diego's...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.