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Fluent · Handout

Borrowing safely: Mexico.

A take-home sheet for people at the session. Other countries: United States · United Kingdom · Canada · Australia · New Zealand · India · Philippines · Argentina.

On your phone? Tap any address to open it. After the session: where to go next. Short address for this sheet: moraph.org/s/borrowing-safely/mx. Pass it on: cards to hand to someone.

Moraph for Good · Fluent

Borrowing safely: Mexico

Handout · moraph.org/commons/sessions/fluent/borrowing-safely

The cost of a loan is everything you pay back, not the monthly payment. This sheet has the questions to ask before you borrow and where to get free help where you live.

Three questions for any lender

  • What is the yearly rate including fees?
  • What is the total I will pay back?
  • What happens if I pay late or early?

Warning signs

  • Pressure to sign today
  • No questions about whether you can afford it
  • A fee before you get the loan, which is often a scam
  • A lender that wants to keep your ID or bank card

Cheaper options to ask about

  • Small loans from credit unions or community lenders
  • A payment plan with the company you owe
  • Free, not-for-profit debt advice

If you’re struggling

  • Contact the lender before you miss a payment
  • Complain in writing, and keep copies
  • Use the official routes below if it isn’t resolved

In Mexico

  • Compare the CAT. By law, lenders offering consumer or home loans, including non-banks such as department stores, must show the Costo Anual Total (CAT, total annual cost). This yearly percentage adds fees, required insurance and other charges to the interest (VAT is left out), which makes loans easier to compare.
  • Check the lender is registered. The Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (CONDUSEF), the national financial consumer protection agency, runs a free register, SIPRES, showing whether an institution is authorized and active. CONDUSEF advises against signing with one that isn’t listed.
  • Upfront fees are a warning sign. CONDUSEF warns about fast loans offered by call, text, WhatsApp or apps that ask for a deposit first, for supposed fees or insurance; once paid, the lender disappears. It says being asked for money in advance to get a loan is a fraud.
  • Rules for debt collectors. Collection agencies for financial institutions must identify themselves, be respectful, and contact you only on business days from 8:00 to 21:00 your time. They can’t threaten you, pursue people unrelated to the debt, or ask you to pay them directly. Complaints go through CONDUSEF’s Registro de Despachos de Cobranza (REDECO).
  • Complaints. You can file a complaint about a financial institution online at condusef.gob.mx, or call CONDUSEF on 55 53 400 999.

Official places to check:

More free official help in Mexico: moraph.org/commons/help/financial-literacy/mx

General information, not advice about your own situation. Checked 22 October 2026. If an official source says something different, it is right. Free to copy and adapt. moraph.org/commons/sessions/fluent/borrowing-safely Version of .