Having your name registered with credit bureaus like Equifax (formerly Informconf) is no longer as concerning as it once was. Law 6534/2020, known as the "Informconf Law," has changed how citizens' financial data is handled in Paraguay.
Previously, Informconf only listed negative information, such as unpaid debts and legal proceedings, which remained in the system for up to 10 years. Now, bureaus are required to also include positive payment histories for loans, financing, and even services, providing a more balanced view of a person's financial situation.
The current legislation prohibits companies from using this data for employment purposes or to deny medical care, in addition to limiting the time a person can be listed as delinquent to five years. Recently, ANDE, Paraguay's state electricity utility, announced it will begin reporting customers with overdue accounts, reigniting the debate on the topic.
According to Equifax, more than 2 million Paraguayans already have positive records in their histories, which helps financial institutions better assess credit applications. Citizens can check their report at over 10,000 payment points across the country or online, paying between 18,000 and 70,000 guaranis, depending on the channel.
The Central Bank of Paraguay also offers free access to reports from the Credit Risk Center, which contains information exclusive to the financial system. For those with a negative credit listing, the solution is to settle debts with creditors—the bureaus update the data within 72 hours after payment confirmation.