Clears name of 2 million and renegotiates almost R$ 500 million in five days, says Febraban

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This week, the renegotiations of track 2 of the program came into effect, which focuses on resolving the debts of individuals with negative financial debts until December 31, 2022, and income of up to R$ 20,000. The Brazilian Federation of Banks (Febraban) released a first balance of the Desenrola Brasil debt renegotiation program, which began last Monday (17). According to the entity, the federal government program removed the negatives from 2 million debtors up to R$ 100 and the banks renegotiated R$ 500 million in 150 thousand debt contracts in five days. The “Desenrola Brasil” program is a campaign promise of President Luiz Inácio Lula da Silva (PT). It was created to promote a collective effort to renegotiate the debts of individuals. The central idea is to remove people from the negative list and resume the consumption potential of the population. This week, the renegotiations of track 2 of the program came into effect, which focus on resolving the debts of individuals with negative financial debts until December 31, 2022, and income of up to R$ 20,000. In addition, debt relief of up to R$ 100 was promoted, which is a counterpart to the participation of banks in the program. This means that, if the debtor had no other outstanding debts, he would have a “clean name” in the credit protection systems. This week, g1 showed that the National Association of Credit Bureaus (ANBC) had informed the Ministry of Finance that more than 2 million records of debts of up to R$ 100 were removed from negative records in the first three days of the program. Initially, the Ministry of Finance projected that 1.5 million people could be covered by this measure, but Febraban’s balance sheet shows that the target was surpassed in the first week of Desenrola. The new expectation is that the number will reach 2.5 million. Denegativation does not mean forgiveness. The debt will continue to exist, but the banks undertake not to include debtors in the negative register. READ MORE Desenrola: see questions and answers about the debt renegotiation program Desenrola Brasil: is it worth renegotiating debts in the government program? See the note from Febraban In the first five days of the Desenrola Brasil Program, the banks associated with Febraban renegotiated debts that reached almost R$ 500 million in financial volume, exclusively for Level 2, in more than 150 thousand debt contracts. Customers will be able to join the program until December 31st. In that same period, banks removed negative notes (denegative) from more than 2 million customer records that had bank debts of up to R$ 100.00. The numbers reinforce the commitment of Brazilian banks to the success of the Desenrola Brasil program. Conceived by the Federal Government and with the support of Febraban, the Desenrola Brasil Program has as its main objective to reintroduce people with credit restrictions into the economy, allowing better conditions for renegotiating their debts. Febraban clarifies that each bank has its own business strategy, adopting its own policies for joining the Program. The conditions for debt renegotiation, at this stage, will be differentiated and it will be up to each financial institution that joins the program to define it. Following its commitment to transparency, Febraban will periodically update these numbers and data and publish partial balance sheets. The ‘Desenrola Brasil’ program begins to clear the name of indebtedness How track 2 works In track 2 renegotiations, the federal government, each financial institution will renegotiate its own debts, without the need to consolidate different creditors as will occur in track 1. Range 2: individuals with a monthly income of up to R$20,000, with negative bank debts from January 2019 until the end of last year. In exchange for offering better conditions to customers, banks will receive an incentive from the federal government. According to the Ministry of Finance, for every real discount that the bank offers in the renegotiation, the financial institution will be able to calculate one real of presumed credit — a kind of tax compensation. With this incentive, the expectation is that the volume of credits available in this phase will reach R$ 50 billion. In the case of track 1, renegotiations should start in September. Range 1: individuals with a monthly income of up to 2 minimum wages or who are enrolled in the Single Registry for Social Programs of the Federal Government (CadÚnico), with debts of up to R$ 5 thousand, negatived between 2019 and 2022. For the group, bank and non-bank debts (with water, electricity and telephone companies, for example) may be renegotiated. Renegotiations will be made from a federal government platform – which is still being developed. In order to encourage creditor companies to offer greater discounts, tier 1 operations will be covered by a guarantee fund. According to the Minister of Finance, the government has set aside R$ 7.5 billion for this purpose – an amount that, according to Haddad, may be complemented. Still according to the minister, this amount can leverage a volume of renegotiations of up to R$ 30 billion, depending on the volume of discounts offered.

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