34% of Colombian households experienced some form of financial crisis in 2025, according to DANE. Losing income, accumulating debt, or facing unexpected expenses can create a difficult spiral — but with the right plan, recovery in 12 months is achievable.
What is a Personal Financial Crisis?
A personal financial crisis occurs when your obligations exceed your ability to pay. It can be caused by unemployment, illness, divorce, or simply years of spending more than you earn. The first step is recognizing it without shame — it is far more common than you think.
The Priority Payment Rule
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Debt Renegotiation: Your Best Tool
Banks prefer renegotiation over losing a customer. According to Asobancaria, more than 70% of refinancing requests are approved when the debtor takes initiative before falling into arrears.
"Financial crisis is not the end — it is a call to reconnect with what truly matters and to build stronger foundations. Every peso saved during a crisis is worth more than ten in times of abundance."
Sources and References
- DANE (2025). National Household Budget Survey - ENPH. dane.gov.co
- Asobancaria (2025). Colombia Financial Inclusion Report 2025. asobancaria.com
- Banco de la República (2025). Financial Stability Report. banrep.gov.co
- Superfinanciera (2025). Financial Education and Consumer Wellbeing Report. superfinanciera.gov.co
- Portafolio (2026). "How to renegotiate debts with Colombian banks". portafolio.co