Constitutional Court published the sentence of the bill “clean slate”, only one signature is missing for approval Photo: Colprensa
The Constitutional Court officially issued the ruling that gave the green light to the “New Borron and Account Law”, which will allow more than 10 million Colombians to clean up their credit lives and stop being negatively reported in the Central risk. This initiative would give an amnesty that consists of eliminating the debtor notification to the people who fulfilled the pending obligations, six months after the payment.
In the same way, the law would oblige the different entities to set up technology platforms where people can check their credit history for free and at any time without generating a negative report or any consequence. It also prohibits employers from requesting reports in Datacrédito, Cifin or other centrals to hire a person.
What is missing for approval?
With the approval of the high court, the bill will be sent to Congress to be signed by the president of the Senate, Juan Diego Gómez, and the president of the House, Jennifer Arias. At the moment in which its endorsement is given, President Iván Duque will have six days to sanction this initiative.
“We are days, a few days away, from the president sanctioning the law and 10 million Colombians will once again see their credit life restored and the negative reports in the credit bureaus in the country will be erased. We are very happy with this news, ”commented Senator David Barguil, promoter of the clean slate law.
Constitutional Court published the sentence of the bill “clean slate”, only one signature is missing for approval Via: Social Prosperity
How will the standard work?
The first thing to keep in mind is that this law is a lifeline for all those who have been reported to credit bureaus, such as Datacrédito, for failing to meet their financial obligations. But the key point is that your negative record will be erased if you have already met your outstanding obligations, that is, the project does not intend to forgive delinquent debtors.
In general, if you catch up with your arrears, reach a payment agreement with the financial institution or your obligation is already prescribed, you only have to wait for the amnesty terms to be met so that the risk centers eliminate the negative report, which will allow you to access other credits or make other purchases without a history of these preventing you from doing so.
It should be noted that the citizen who benefits from this ‘clean slate’ will have a one-time amnesty. This means that Colombians reported as delinquent debtors have a period of one year, after the law is enacted, to cover their debts and catch up, once this is achieved, they will leave the credit bureaus within a maximum period of time. six months.
Another important point is that this law also benefits those who have small debts. It was established that those who have debts less than 15% of the minimum wage (less than $ 136,279) will only be negatively reported if they receive two alerts, which will be sent 20 days apart, and they do not catch up with said obligation.
An important sector of the population that is included among the beneficiaries are university students or those Colombians who have accessed a loan with Icetex to pay for their professional studies. In the same way, once the Sandran law of ‘the black list’ is sanctioned, small producers, rural youth, rural women and victims of the armed conflict, of course, as long as they extinguish their debt.
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