Banks will be able to collect debts from your salary account only with authorization
Posted: Wed Jan 08, 2025 4:23 am
It is important to read the loan contract carefully, as this is where the client gives the green light to compensation.
Banks will be able to offset debts through your salary account only if you authorize it, according to a resolution recently issued by Indecopi.
The agency recommended that the Superintendency of Banking, Insurance and AFPs provide for the use of special forms so that users can decide whether a financial institution can make deductions from their salary (salary account) if they fail to pay a debt.
Lawyer Ivo Gagliuffi, partner at Lazo, De Romaña & Gagliuffi Abogados , reminds that, before signing a credit contract with a bank, the user must read the clauses carefully to avoid surprises later. He says that this rule is aimed at people who earn up to S/.1,800 per month.
"What the resolution is trying to henan number screening do is avoid financial default, which in the long run could affect interest rates ," he says.
The expert says that, through the compensation system, the financial institution can collect 100% of the debt.
"If a person owes S/.5,000 and earns S/.1,600 per month, the bank can take the entire salary to collect if it deems it necessary ," he explains.
DISCOUNTS Juan José Marthans, professor at the University of Piura , comments that if a user has his salary account in a certain bank, but asks for a loan from another, the latter can request the discount in the salary account in the event that the payment is not made.
"Compensation works for all types of credit, and the most common are consumer credits. All that is needed is authorization from the client ," he says.
Banks will be able to offset debts through your salary account only if you authorize it, according to a resolution recently issued by Indecopi.
The agency recommended that the Superintendency of Banking, Insurance and AFPs provide for the use of special forms so that users can decide whether a financial institution can make deductions from their salary (salary account) if they fail to pay a debt.
Lawyer Ivo Gagliuffi, partner at Lazo, De Romaña & Gagliuffi Abogados , reminds that, before signing a credit contract with a bank, the user must read the clauses carefully to avoid surprises later. He says that this rule is aimed at people who earn up to S/.1,800 per month.
"What the resolution is trying to henan number screening do is avoid financial default, which in the long run could affect interest rates ," he says.
The expert says that, through the compensation system, the financial institution can collect 100% of the debt.
"If a person owes S/.5,000 and earns S/.1,600 per month, the bank can take the entire salary to collect if it deems it necessary ," he explains.
DISCOUNTS Juan José Marthans, professor at the University of Piura , comments that if a user has his salary account in a certain bank, but asks for a loan from another, the latter can request the discount in the salary account in the event that the payment is not made.
"Compensation works for all types of credit, and the most common are consumer credits. All that is needed is authorization from the client ," he says.