Credit Rehabilitation: An Option for Financial Control

Unexpected circumstances can sometimes disrupt our financial situation. They can directly affect our wallets and impact our commitments, such as personal loans.

Fortunately, Popular offers alternatives to help you fulfill your financial obligations if you temporarily have difficulty meeting the original loan terms.

Debt restructuring allows the terms of a loan to be modified to better suit the debtor's payment capacity.

If you are currently experiencing difficulties that prevent you from meeting your financial obligations, Popular has Assistance Programs¹ that can be tailored to your specific needs.

One option available is the credit rehabilitation program¹, which allows you to refinance and consolidate your unsecured debts with Popular into a single loan at a lower interest rate.

Here are some of this program’s general requirements:

• Applies only to active unsecured consumer debts (personal loans, personal credit cards, and reserve lines).
• Debts cannot be overdue.
• The total balance of all unsecured accounts to be included in the restructuring must be equal to or greater than $2,000.
• The customer must provide proof of income.
• Charge-off or bankruptcy accounts will not be included.
• If the customer does not provide a reason for their affected payment capacity, they may be assessed under the standard policy for a credit product that suits their needs.²

If you are facing financial difficulties that prevent you from meeting your obligations with Popular, please call the Consumer Credit Services Division (Puerto Rico) at 787.758.3273, Monday through Friday from 8:00 a.m. to 5:00 p.m., for guidance on these alternatives.

Product offered by Banco Popular de Puerto Rico. Member FDIC.

¹Assistance is subject to the customer meeting the specific terms and conditions of each program and supplying evidence of the temporary situation that has affected their financial capacity.

²Subject to credit approval. Other restrictions apply.