2023-07-30 21:59:11
The Condusef reported that covering only the minimum payment requested in the credits directly affects the total financing payable
By: Francisco Minjares
pay the minimum in the card of credit It can increase the total value of the purchased product by almost 50 percent and lengthen the monthly payments, agreed the Federal Consumer Attorney (prophecy) and the National Commission for the Protection and Defense of Users of Financial Services (driving).
According to a table published by the prophecy With information from Banco de México, in the event of a debt of 10,000 pesos, it would take two years and 11 months to pay the total if only the minimum payment monthly payment of 415 pesos, with which they would end up paying 4,613 pesos in interest, adding a total of 14 thousand 963 pesos when liquidating the credit.
On the other hand, if the minimum is paid twice, it would be equivalent to 830 pesos per month and the interest would drop to 1,913 pesos at the end of the credit for a term of one year and two months; meanwhile, to pay five times the amount minimum would be equivalent to 2,075 pesos per month for a period of five months and interest will be reduced to 750 pesos at the end of the credit in five months.
Given this assumption, the driving recommends that users of financial services calculate their ability to pay before requesting any creditin addition to using the minimum payment calculator on the website www.drivef.gob.mx to determine how long it would take to cover the debt.
Both federal agencies agreed that credits should not be acquired whose monthly payments exceed the income of the workers, or that are higher than the current family expense, which has to do with the payment of water, electricity, food, fuel, among others.
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