Desenrola Brasil: see rules and who can participate – 06/06/2023 – Market

The Desenrola Brasil program launched this Monday (5) by the Minister of Finance, Fernando Haddad, tries to reduce the number of debtors in the country. One of the measures that can be adopted is the forgiveness of debts of up to R$ 100 by creditors interested in participating in the program.

Desenrola Brasil will have two tracks for renegotiating individual debts. The contracts can be signed until December 31, 2023 and the amounts paid will not be charged IOF (Tax on Financial Operations).

The debt can be paid in cash or through bank financing in up to 60 months, with no down payment, with interest of 1.99% per month. The first installment will be charged after 30 days. Renegotiation will be via cell phone, and payment can be made by debit, boleto or Pix.

To participate, you must have your name on the defaulters register. Track 1 will be restricted to citizens who have debts of up to R$ 5,000, whose name was dirty on December 31, 2022 and who earn up to two minimum wages (R$ 2,640) or are registered in the CadÚnico (Single Registry for Social Programs of the Federal government).

Track 2 will be for people with bank debts, with the possibility of direct renegotiation with the financial institution. The government’s expectation is to start the program in July and that more than 70 million people can benefit from it.

Provisional measure 1,176, published this Tuesday (6) in the Official Gazette, sets out the rules for participating in the program. One of the conditions for the entry of creditors is the forgiveness of “small credits”. In the MP, the amount is not mentioned, but information released by the Ministry of Finance is that debts of up to R$ 100 “may be cleared”.

“The idea is that he [o credor] already take the name [do devedor] of SPC and Serasa to qualify to participate in the program”, said Haddad on Monday.

Who can participate in Desenrolla?

• Debtor: natural person with name in the defaulter register and who can settle the debts with own resources or taking out a loan

• Creditor: legal entity that included the debtor in the defaulter register. You must request inclusion in the program and offer discounts on debts and an option to exclude “small value” debts. The amount is not specified in the PM.

• Financial agent: banks or financial institutions authorized by the Central Bank to carry out credit operations. They will pay with their own resources the amounts of the debts and receive payment guarantee of the 1st FGO (Operations Guarantee Fund) payment guarantee.

What are the rules for joining the program?

In track 1 of the program, debtors who meet the following conditions will be accepted:

• Have your name on the defaulter register by December 31, 2022

• Have debts of up to R$ 5,000

• Monthly income of up to two minimum wages (R$ 2,640) or who is enrolled in CadÚnico

• Debts must be of a private nature

• They are not included in the real estate financing program, rural credit and other operations

• Debtors will be encouraged to take a financial education course

Track 2 of Desenrola Brasil will only be aimed at those who have debts with banks, which will offer direct renegotiation to customers. In return for debt discounts, the government will offer a regulatory incentive to increase the supply of credit, but there will be no FGO guarantee.

In both bands, amounts traded through Desenrola Brasil will not be charged IOF.

How will it work?

According to the Treasury, membership will be via cell phone, on a platform that is still being developed. In addition, the renegotiation payment can be made in cash or in up to 60 installments, with interest of 1.99% per month.

The first installment must be paid within 30 days and the amounts will be paid by Pix, debit or boleto. The negotiation platform that will be launched will have information such as a list of debts that can be negotiated, the discount offered by the creditor and the status of each of the debts.

Before, however, there will be the accession of the creditors. Then, an auction will be held by credit category (for example: bank debts, basic service debts and company debts), with the winner being the creditor offering the highest discount for the debt to be renegotiated. Anyone who proposes smaller discounts will be excluded from the program.

The rules for participating in the auction and its public notice will still be released by the Ministry of Finance.

After the auction, the process of including the debtors in the program will be carried out and, finally, there will be the debt renegotiation period between the debtor and the bank chosen by the defaulting person. The debtor will pay the bank, which will transfer the amount to the creditor.

Febraban approves; financial educator alerts

In a note, Febraban (Brazilian Federation of Banks) claims to have participated in negotiations with the federal government and says that the program is a way of guaranteeing future credit to those who were indebted.

“Febraban believes that the Desenrola program has the potential for credit to continue to be granted in a safe manner and within borrowers’ needs”, says the entity’s president, Isaac Sidney.

Regarding the platform to be created, the federation explains that the tool is in the final stages of development. “It requires a platform through which a large amount of information and documents will pass. This complexity requires large-scale technological and digital solutions, which are in the final stages of development and do not depend only on bank initiatives”, he highlights.

The president of Abefin ​​(Brazilian Association of Financial Education Professionals), Reinaldo Domingos, warns of the need to include learning about financial education for the population. “By not having an educational support, this project tends to cause the agreements not to be fulfilled by Brazilians or that new lack of control occur over time”, he evaluates.

In his analysis, people who will take loans may again have problems with debt in the future. “It is clear that only debt renegotiation actions do not have an effective effect in the medium and long term. People solve the momentary problem and go back into debt”, she says.