You are negotiating your debt with a Collection Office

The National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF), informs you of the conditions to which they must adhere to carry out the procedures of collection, negotiation or restructuring of credits, loans or financing. If you have a debt with a financial institution and a Collection Office has contacted you to settle it, the CONDUSEF, explains what you should do. It is important to specify that the Collection Office acts as an intermediary between you and the financial institution, with the purpose of extrajudicially requiring the payment of the debt, as well as negotiating and restructuring the credits, loans or financing. Read more: What is a Proptech? Here we tell you what these companies are and how they work Before this, it is necessary to emphasize that the formalization of the agreement must be done with the financial institution that granted the credit and NOT with the Collection Office.The above is due to the fact that this National Commission has received complaints from users who have paid directly to the Office some rebate, without being notified by the financial institution, so its debt remains in force. Therefore, we tell you the conditions that the Collection Offices have to carry out the collection, negotiation or restructuring of credits, loans or financing:1. Document in writing with the debtor the agreement of payment, negotiation or restructuring of the credits, loans or financings, indicating the terms and conditions that allow to identify the offer, discount, forgiveness or withdrawal, if the agreement includes any of these concepts.2. Indicate the amount to be paid, breaking down the principal amount, ordinary interest, moratoriums and, where appropriate, any other cost that is payable according to the contract, including the respective calculations.3. Specify whether this will result in the settlement or settlement of the debt, or only a partial payment will be covered.4. Clearly indicate in the document, the account number of the financial institution in which the payment will be made, with reference to the credit number in question. Likewise, it is worth noting that from the first contact established by a Collection Office, either in writing or verbally, it must indicate to the debtor: Name, denomination or business name of the Collection Office and the person in charge of carrying out said activity. Address, telephone number and name of the persons responsible for the collection. Financial institution that granted the credit, loan or financing in question. Contract or operation reason for the debt on which the collection action is based. Amount of the debit and date of calculation. Conditions for settling the debt. Address, email and telephone number of the administrative unit of the financial institution, which will receive complaints about bad collection practices. That the payment or payments may only be made to the financial institution that granted the credit, loan or financing. Read more: Welfare Pension: How much will the payment increase during amlo’s government? Remember that if you are interested in restructuring or liquidating your debt, the CONDUSEF gives you the following recommendations: Consult the Registry of Collection Offices (REDECO) those that work with financial institutions: https://phpapps.condusef.gob.mx/redeco_gob/redeco.php, so that you are sure you are not dealing with a fraudulent company. If you are looking for a credit repairer on your own, consider that it will not solve your problem, what it will do is negotiate for you, and in some cases give you legal and financial advice, services for which it will charge you. If a Collection Office asks you for cash or to make deposits into a personal account without having resolved anything yet, it is feasible that it is a fraud. Consider that a ? Remove?, that is, discounts or forgiveness to your debt, negatively affects your credit history and your ability to access new financing. No one but you can legally manage, clean up your credit history. Evaluate the causes that led you to indebtedness and avoid falling back into this situation.



Original source in Spanish