THE Desenrola Brasil Program, a Federal Government initiative, is effective July 17, 2023. The date was brought forward to benefit debtors with a monthly income of up to R$1,400,000 and outstanding debts with banking institutions. Additionally, banks will be responsible for regularizing the financial situation of up to 1.5 million account holders with debts of less than R$1,400,000. This process must be completed by July 28.
In a previous move, the Ministry of Finance issued an ordinance on June 28th, establishing the rules for a debt restructuring program for individuals. This initiative will be divided into two categories and, according to government estimates, will cover approximately 70 million individuals.
How to join the Desenrola Brasil program?
To be part of the Desenrola Brasil program, individuals must have active debts incurred between January 1, 2019, and December 31, 2022, in addition to falling into one of the two categories established by the program.
Category 1 is intended for individuals with debts of up to R$1,400,000 and a maximum monthly income of two minimum wages, or who are registered in the Single Registry (CadÚnico). Category 2 covers individuals with a monthly income of up to R$1,400,000, offering defaulters a minimum of 12 months to repay their debts.
The debt renegotiation process will be conducted through the Desenrola Brasil program's digital platform. Users must access the system using their gov.br portal credentials and select a financial institution registered with the program to conduct the renegotiation. Debtors will have the option to choose the number of installments to be paid.
Debts worth up to R$1,400.00 will be automatically forgiven. Participating banks have 30 days to cancel the debt and remove the customer's name from the debtor list.
When will the Desenrola Brasil program come into effect?
The program will be in effect starting July 17th, covering negotiations for individuals with monthly incomes of up to R$1,400,000 per month who have bank debts. Starting in September, individuals with incomes of up to R$1,400,000 will have the opportunity to renegotiate their debts.
Has the Desenrola Brasil Program already been approved?
For the Desenrola Brasil program to become law, it still needs to be submitted to a vote and approved by the National Congress. The program was published in the Official Gazette as a Provisional Measure (MP) on June 6, 2023, and its effects are immediate. Congress has 90 days to evaluate the program.
On June 28, the Ministry of Finance issued an ordinance establishing guidelines for debt renegotiation through the program. This regulation divides the Desenrola Brasil program into two categories and provides for automatic debt forgiveness of up to R$$100.
Who is eligible for the Desenrola Brasil program?
Desenrola Brasil is intended for individuals with incomes of up to R$1,400,000 who have debts with banks, retailers, and utilities such as water, electricity, and telephone. The program is stratified based on debtors' income. Individuals with incomes of up to two minimum wages or registered in the Federal Government's Single Registry for Social Programs, known as CadÚnico, are in "Category 1." Those with a monthly income of up to R$1,400,000 fall into "Category 2."
This benefit has the potential to help more than 70 million Brazilian citizens. With the publication of the Provisional Measure, these renegotiations are expected to provide relief for the country's population.
Which banks have joined Desenrola Brasil?
Over the past few days, the Desenrola Brasil Program, implemented by the Federal Government, has attracted the participation of a growing number of entities. These include banks and retail chains committed to offering discounts and flexible terms for their customers' debts.
The goal is to help customers reestablish their credit, overcome default, and remove their names from debtor lists, such as Serasa.
Debts accumulated on credit cards made available by store chains such as Magazine Luiza, Extra, Ponto Frio, Marisa, Assaí and Hipercard, which are issued by Itaú, and also debts linked to Renner, through its financing company Realize CFI, will be subject to renegotiation within the scope of the program.
The country's five largest banks, Itaú, Bradesco, Santander, Banco do Brasil and Caixa Econômica Federal (CEF), have already made public their commitment to the program.
Due to high demand, CEF announced that it will open its branches an hour earlier on Friday (21) in order to serve customers seeking to renegotiate their debts. The public bank reported a two-fold increase in demand for debt negotiations through its channels in a two-day period.
Furthermore, Banrisul, Daycoval, Inter, PagBank and Pan also confirmed their participation in Desenrola Brasil.
Nubank's membership
After Finance Minister Fernando Haddad stated this week that Nubank could include up to 2.5 million individuals with debts of up to R$1,400,000 in debtor registries if it joined the program, the bank opted to join the initiative. Nubank alone has over a million customers with a negative credit history.
Data obtained from the financial statements for the first quarter of 2023, compiled by the Inter-Union Department of Statistics and Socioeconomic Studies (Dieese) and the National Confederation of Workers in the Financial Sector (Contraf-CUT), reveal that Nubank customers account for 46% of Brazil's adult population. The default rate, with debts overdue for more than 90 days, reached 5.5% in the first quarter of this year.
The default rate among customers earning up to one minimum wage (R$ 1,320) is 7.4%. In the income bracket between one and two minimum wages (R$ 2,260), the default rate reaches 6.8%. These figures are above the general average. Specifically, in the case of credit card debt, the default rate for these two income groups exceeds 10%, while for personal credit, it exceeds 13%. Notably, this is the target audience for Band 1 of the Desenrola program, launched by the federal government.
10 tips to clear your name and get out of debt
In today's financial landscape, where many individuals face challenges related to debt and default, it's crucial to understand strategies for clearing your reputation and regaining control of your personal finances.
One approach that has gained prominence is the Desenrola Brasil Program, a federal government initiative that aims to help people get off debt lists and regain financial stability.
Tip 1: Financial Self-Awareness – The First Step to Change
The journey to maintaining a clean credit record and getting out of debt begins with a deep understanding of your financial situation. Face reality head-on by objectively analyzing your debts, income, and expenses. Create a clear picture of your financial obligations and set realistic goals to overcome this situation.
Tip 2: Budget – The Guide to Financial Control
Creating a solid budget is essential to effectively manage your spending. List all your sources of income and monthly expenses, categorizing them according to priority. Commit to living within this budget, cutting unnecessary expenses and avoiding new debt.
Tip 3: Debt Negotiation – Seeking Viable Solutions
If you're already in debt, don't hesitate to negotiate with your creditors. Financial institutions are often willing to renegotiate debts, offering more flexible payment terms. Look for lower interest rates or installment plans that suit your current financial situation.
Tip 4: Debt Prioritization – Smart Payment Strategy
Not all debts are created equal. Some may have higher interest rates or more severe consequences if not paid. Prioritize debts according to their urgency and financial impact. Generally, it's wise to start with the debts with the highest interest rates, while maintaining minimum payments on others to avoid penalties.
Tip 5: Sustainable Lifestyle – Redefining Consumption Habits
As you work to get out of debt, consider adopting a more sustainable lifestyle. This will not only help you save money but also prevent future debt accumulation. Evaluate your spending habits, identifying areas where you can reduce expenses, such as eating out less often, canceling unnecessary subscriptions, and seeking more economical options.
Tip 6: Generating Additional Income – Exploring New Opportunities
To speed up the debt payoff process, consider increasing your income. This can be done through freelancing, temporary work, or even exploring skills and passions that can turn into an additional source of income. The extra income can be directly allocated to debt repayment, helping to alleviate financial pressure.
Tip 7: Financial Education – Investing in Your Knowledge
Understanding the basics of personal finance is crucial to avoiding future debt. Take the time to learn about money management, investing, retirement planning, and how to avoid financial pitfalls. The more you know about managing your money wisely, the less likely you are to fall into debt again.
Tip 8: Emergency Fund – Protecting Yourself Against Unforeseen Events
One of the reasons people often accumulate debt is a lack of an emergency fund. Set a goal of saving an emergency fund that covers three to six months of expenses. This will ensure you don't have to resort to loans or credit cards in times of unforeseen circumstances, keeping your credit rating clean.
Tip 9: Financial Advice – Seeking Professional Guidance
If your debts are complex or seem insurmountable, consider seeking help from a financial advisor. These professionals can offer personalized insights on how to manage your finances, develop a repayment plan, and chart an effective path to debt relief.
Tip 10: Persistence and Discipline – The Path to Financial Freedom
Getting out of debt and keeping your credit score clean requires patience, persistence, and discipline. The process can be challenging and time-consuming, but every payment you make and every prudent financial choice brings you closer to your ultimate goal. Keep your motivation high, celebrate the small victories along the way, and remember that financial freedom is worth the effort.
Get out of debt with the Desenrola Brasil Program
Have you ever imagined the feeling of finally freeing yourself from the debt that's been weighing you down? If the idea of regaining your financial stability and rebuilding your financial life seems like a distant dream, it's time to learn about the Desenrola Brasil Program.
This innovative program, created by the federal government, offers a unique opportunity to get out of debt and regain control of your finances in an effective and affordable way.
The mountain of accumulated debt can become an unsustainable burden, affecting your quality of life and future prospects. However, with Desenrola Brasil, hope is within your reach.
The program brings together a series of carefully designed benefits to help individuals like you reverse this situation and regain your financial freedom.
Clear your credit, free from negative records and restrictions. Desenrola Brasil isn't just a debt renegotiation program; it's a chance for a fresh start.
With the participation of renowned banks and retail chains, the program offers discounts and extended terms to help you settle your debts more easily. The process is simple and straightforward, designed to remove obstacles and facilitate your journey toward financial solvency.
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August 14, 2023
Graduated in Literature – Portuguese/English, and creator of the website Successful Writer, seeks to expand everyone's knowledge with relevant information on a variety of topics, as a writer. At Vaga de Emprego RJ, she provides opportunities and tips on the job market.