2023-11-05 05:14:03
The credit from the National Fund for Workers’ Consumption (Fonacot) was created with the objective of supporting workers with financing for the acquisition of goods and services. If you have already acquired one of these loans, or are considering it, you will surely be interested in knowing what would happen in the but of the scenarios.
First remember that the amount that can be requested from Fonacot is up to four times the monthly salary received.
Another advantage of obtaining a Fonacot credit is that it offers a rate of interest considered low (16 percent) compared to other options on the market.
Once the credit is given, payments are made directly through your payroll; This means that a monthly payment will be made directly from the payments received in your salary.
Read also How to schedule an appointment with Fonacot via internet, telephone or WhatsApp?
However, if for some reason your company goes bankrupt or you lose your job, Fonacot has several schemes to pay the loan.
First of all, you should go to the nearest branch for advice and find out the options to cover the credit.
These are the schemes offered by Fonacot:
70-30 scheme
70 percent of the loan is paid in a single payment and Fonacot helps pay the remaining 30 percent in addition to stopping the interest due, as it is forgiven by the institution.
Scheme 20- 20 -20
20 percent of the loan is paid, while the remaining amount is fixed for 20 months without interest; In addition, for each punctual payment, Fonacot grants a 20 percent reduction and the interest generated by late payments is waived.
50-50 scheme
Up to a 50 percent discount on the debt is offered, as long as you pay the remaining 50 percent in a single payment; In addition, the interest is settled, but this applies only to credits assigned to the PSEC modality (Specific Credit Administration Processes).
Take into account that, if you do not make your payments, the contract penalties apply, in addition to Fonacot passing the debt report to the credit information companies. Likewise, the institution will begin the recovery process through an accredited collection office, with default interest generated by the delay and collection expenses.
Also read Bonus for retirees and pensioners: Who will receive it in 2023?
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