Do you want to know how it works to solve your debt? Well, you need to resolve your debt and you have heard or read opinions of all kinds.
However, there is nothing better than by your own means you can make a resolution and for this you will then know the different opinions of consumers like you and how it works so that later you can take a termination.
What is solve your debt?
Solve your debt, is a credit repair company with several years of experience in Mexico, they were already installed in 2009 with the aim of ending the financial problems of Mexican clients.
But without the need for you as a client to apply for a loan to pay off your debts and thus rejoin the credit system.
How it works solve your debt
In principle you understood that solve your debt It is not the company that grants you a loan, as it works like this:
- When you approach to present your case, the managers will analyze in detail your problem, your credit history and determine what your debts are.
- After reviewing the status of your debts, the time comes when a settlement plan is drawn up based on the analysis of your ability to save, which will result in the time you need to settle the doubts.
- Your money that comes from monthly contributions will remain insured in a savings account in your name.
- Then the negotiation with your creditors begins, for which the company seeks to get a good discount that can be obtained depending on the financial institution to which you owe.
- After negotiating, continue the settlement of the debts you have with the discount obtained and with the money you have saved to pay your debts.
Requirements to resolve your debt
Entering the program is quite easy, as there are only three requirements:
- Your debt must exceed $ 35,000 regardless of whether it is in one or more financial institutions to which you owe.
- Obviously you must have arrears with the payments of your debts, that is to say that you have no possibility of facing the payment of your credit cards.
- However, you must be willing to pay your debts.
Solve your debt is reliable
You could have read that solving your debt is unreliable and even more so that it is a fraud, that it does not comply or work as advertised, but …
- Most of the people with these opinions do not know specifically how it works, they are unaware of the program because they have never entered it.
- The company is defined as consolidated and registered where it corresponds to be able to operate legally, with a contract that those who enter can read, since it is available and they can check all the data for greater peace of mind.
- The company does not raise money and therefore is not recognized by the Mexican financial system.
- Therefore, when you enter the program, your money is saved in an account in your name in a SOFIPO, Sociedad Financiera Popular, which recognizes the Financial System and at the same time is regulated by the CNBV, the National Banking and Securities Commission.
- When you enter the program, you receive a checklist and a contract with all the information in nine points, which the advisor will explain to you so that you can close it.
- With the checklist you will sign next to each point as ours that you have read it and agree with its characteristics.
- If you agree, you will sign and if you have doubts, before signing you will ask the advisor, otherwise you have no obligation to sign it.
Solve your debt Condusef
- As you have already read, because it solves your debt, it does not receive money, it cannot be regulated by Condusef, but upon entering you receive a contract for the doubt repair service and a contract from the Economic Alternatives Society (the savings vehicle)
- You sign a contract between individuals that is regulated by the general law of commercial companies that PROFECO can supervise.
- With all these measures your money will be saved in a totally safe way in a savings account in your name.
- The Condusef is the public entity in charge of advising and protecting people’s rights when hiring a financial service or when hiring a product.
Solve your debt opinions
- First of all, you should know that solving your debt does not work miracles, it does not use its own money to solve the debts of clients.
- The program offers a personalized savings plan for each client to renegotiate the debt with the creditor, credit card debts or payroll or free investment loans.
- The period of time for the payment of the debt can be variable but is generally between 6 and 30 months.
- In the period of 6 to 30 months you pay your debts, you finish a good resolution with your creditors and you can request a new credit with the aim of creating a new credit history.
- The company works as an intermediary between debtors and creditors for the purpose of negotiating the debt.
- The company seeks to achieve a discount on the debt after analyzing it in conjunction with the client’s expenses and income.
- With the previous analysis, it is possible to establish a savings plan so that the amount that the client owes can be terminated in a specified period of time.
- The company presents itself as the debtor’s attorney-in-fact but at no time is it presented as a payment guarantor.
- It is also important that you know that if there is a judicial file in your case, the company will not negotiate your debt.
- If you agree with the information in the contract with all its points, a savings account is opened in your name and according to what the advisor determines after reviewing your credit, he presents you with a plan so that you can cancel your debts.
- The company is in charge of negotiating the debt with the creditor entities in order to obtain a discount that is variable and can reach 70%
- The savings plan that the company will propose is based on your monthly income.
- The money that you keep in your savings account is destined to the payment of your pending doubts.