After joint work with the Government Laboratory and the Secretariat of Modernization of the Ministry of Finance, today the Commission unveiled a new platform that allows people to easily access, free of charge and online, a renewed CMF Debt Report.
The "Know Your Debt" website shows individuals' debts with financial entities supervised by the CMF according to the type of loan (consumer, housing and commercial), institution and payment status. They can also access planning tools and recommendations to improve their financial situation in terms of debt status and financial burden.
October 26, 2023 - Solange Berstein, Chairwoman of the Financial Market Commission (CMF), presented today alongside Ministry of Finance Mario Marcel the "Know Your Debt" website and the Commission's new Debt Report. The new platform is the result of joint work started a year ago with the Government Laboratory and the Secretariat of Modernization of the Ministry of Finance. Launching the "Know Your Debt" website closes the activities carried out by the CMF during October as part of the 2023 .
Attendees included Undersecretary of Finance Heidi Berner; Andrés Herrera, Director of the National Consumer Service; Pamela Gana, Superintendent of Social Security; Hugo Sánchez, Superintendent of Insolvency and Restructuring; and representatives of Chile Atiende and the financial sector.
Monitors from the Government Laboratory and the CMF guided people during the day on how to obtain their Debt Report online. Financial education workshops were conducted by Erik Berwart, Head of the Commission's Financial Education Department.
Simple, Accessible, Free
The Debt Report contains information updated weekly on the current and in arrears debt of individuals in financial entities supervised by the Commission: banks, cooperatives, and non-bank credit card issuers. Due to its widespread use, the Debt Report is one of the CMF's main citizen services. 4.7 million reports were issued in 2022.
Individuals can use their Individual Password issued by the Civil Registry to access the Debt Report free of charge on the "Know Your Debt" website. It is also available in person at the CMF's Customer Service Offices.
The platform shows individuals' debts with financial entities supervised by the CMF according to the type of loan (consumer, housing and commercial), institution and payment status. They can also access planning tools and recommendations to improve their financial situation in terms of debt status and financial burden. Interested parties can subscribe to receive the Debt Report every month for a closer management of their indebtedness.
"Access to credit is a fundamental part of having a better quality of life. It allows us to finance our personal projects and ventures, as well as to overcome fortuitous events where the possibility of accessing financing becomes critical to move forward," stated Chairwoman Berstein. "We want people to know their debt, because they can learn how to best manage it, getting the most out of loans and avoiding risks such as over-indebtedness."
On launching the Know Your Debt website, Solange Berstein said, "We want to give citizens, especially those who are more distressed, a helping hand. With quality information and useful advice, they can progressively learn and improve their financial capabilities."
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