Overview
- Specialists from the Organización Nacional de la Defensa del Deudor urge a five-step response for borrowers: stop taking new credit, map income and debts, seek professional advice, reject miracle offers, and tailor negotiation by creditor.
- Traditional banks usually have formal recovery units that can offer restructured payments or partial debt forgiveness, while many fintech apps offer little flexibility and rely on high fees and rapid rollovers.
- Fintech loan terms and compounding charges can make a small MXN 3,000 loan balloon to MXN 17,000–20,000 in weeks, and demand for debt-repair help has risen by about 30 percent.
- Experts warn that stopping payments brings swift moratory interest, negative entries in Buró de Crédito, and a growing risk of lawsuits because banks have increasingly pursued legal action even for small balances.
- Borrowers facing aggressive collection should demand written contracts and account statements, keep records of calls and messages, file formal complaints with CONDUSEF, and work with advisers before deciding to pause payments.