Due to the economic contingency that the coronavirus pandemic has unleashed in Mexico, dozens of Mexican workers have requested some credit through the National Fund for Workers’ Consumption (Fonacot); however, they were left without a job and now wonder what will happen to the debt.
Given this, the Fonacot offered three Different alternatives to which interested parties could resort, so in this space we will make known what they are and how they apply.
According to the financial institution, among its support plan to be able to pay the credit includes forgiveness of late interest, principal and interest discounts, longer terms, among other benefits.
In the event of job loss or business closure in the event of any eventuality, and due to the fact that they may not be able to pay regularly, the unemployed person may review the following schemes:
According to Fonacot, through this plan, the user will be able to pay the 70% of your debt and the institution will support it with the remaining 30%, in addition to the interest generated by the delay will be waived. In this way your credit will be zero.
In this case, they request to disburse the 20% of the debt, in order that the remaining balance is restructured for a term of up to 20 months without interest and for each payment made in a timely manner, Fonacot will be granting the benefit of a deduction equivalent to 20% and the interest generated is forgiven for the delay.
The discount of up to 50% of the debt When paying 50% of the same in a single payment and the remaining 50%, the interest generated by the delay will be forgiven, in this way, the credit will be liquidated. (Only credits assigned to PSEC).
How to request it?
* The interested party will have to go to the nearest branch of Fonacot, in order to study any of the aforementioned alternatives.
* The documents that you should have on hand for the process are: INE credential or passport and proof of address for the current two-month period.
Where can you pay?
To make the payment, Fonacot makes the following bank options available to the worker. Here.
It is recommended to pay the exact amount no later than the payment deadline to continue with the benefit of the discount granted.
On the other hand, the institute warned that, in case of not continuing to pay, the protection or insurance coverage will be applied, although the payment behavior of the borrower will also be reported to credit information companies that may affect their credit history in the future. . In addition, the recovery process will begin through a collection office accredited with delinquent interest generated by the delay and collection expenses.
According to Fonacot, hundreds of workers have the possibility of accessing some credit, although it will depend on the institution for which they work in each case. Financing may reach up to 50,000 pesos, based on the monthly salary of each person.