Unwind: store card debt can be negotiated – 07/20/2023 – Market

Debts on store cards can be negotiated at Desenrola Brasil, which, on Monday (17), began the renegotiation of bank debts of banks, finance companies and credit societies.

This is the case of credit cards offered by Magazine Luiza, Extra, Ponto Frio, Marisa, Assaí and Hipercard, which are issued by Itaú. Renner joined the program through its sponsor Realize CFI.

In addition to Itaú, Banco do Brasil, Bradesco and Santander will also negotiate their partners’ credit card debts.

At this stage of the federal program, renegotiation is only allowed for those who entered the negative list from January 1, 2019 and remained on it until December 31, 2022. Debts contracted in 2023 do not enter the program.

To participate, consumers must have an income between R$2,640 (two minimum wages) and R$20,000 per month. There is a minimum period of 12 months to pay the debt, which can be paid in installments and have an interest rate to be defined by the bank. Each financial institution will have its own negotiation.

How to negotiate retailer card debt

The agreement at this stage of the Development is restricted to bank debts, not being allowed to negotiate debts from other sources such as water, electricity and other services, or even store receipts. In the case of Magazine Luiza, the debt on the Luiza card will be renegotiated at this stage. According to the retailer, the card is used by 7 million people.

Itaú reported that the negotiation of retailer card debts must be done through the bank’s application, internet banking (at this link) and WhatsApp, at the number (11) 4004-1144. The interest rate and the number of installments will depend on the customer’s profile.

At Renner, trading will be done on the website of its finance company, Realize CFI, and the conditions can be checked at this link. Discounts can reach 98% and payment can be made in cash or in up to 48 installments (equivalent to four years). Realize CFI’s adhesion to Desenrola should be done in the next few weeks and, from then on, it will be possible to close the agreement.

Banco do Brasil informed that credit card debits from partners such as AME, Smiles, Kabum and Dotz will have discounts of up to 96% for cash payment. Installments can be made in up to 120 months (equivalent to ten years) and the interest rate can be reduced by 25%.

The negotiation will be carried out through the bank application, via WhatsApp, sending #renegocie to the number (61) 4004-0001, through the relationship center on telephones 4004-0001 (capital cities) or 0800-7290001 (other regions), through bank branches or through internet banking (available at this link).

Debts on credit cards from partners linked to Bradesco will have conditions negotiated according to the customer’s profile. Negotiation will be per application; on telephones 4002-0022 (capitals and metropolitan regions) and 0800-5700022 (other regions); outsourced billing advisory services; Bank agencies; internet banking (available at this link) and directly with the partner.

Santander will renegotiate partner card debts with up to 90% discount and payment in up to 120 months. The customer can make the agreement through internet banking (available at this link) or by calling 4004-3535 (capital cities and metropolitan regions) and 0800-7023535 (other locations).

Sought, C&A said it was studying participation in Desenrola, and Pernambucanas said it would not respond.

Clean name for debts of up to R$ 100

Those who join the program will also have their name cleared, if they have debts of up to R$100 made between 2019 and 2022. The measure should take place by the end of July and will be done automatically by the banks after the agreement is closed with the customer.

The Minister of Finance, Fernando Haddad, said this Monday (17) that up to 2.5 million people could be removed from the list of bad names, if all banks entered the program. Removing the name will allow the person to obtain other lines of credit or sign a lease, for example.

Leaving the delinquent list does not represent debt forgiveness, which will have to be paid. The customer who delays the payment will be charged and may appear again in the records of bad payers. Phase agreements must be made by December 30, 2023, according to Febraban (Brazilian Federation of Banks).

The government’s expectation is that 30 million people will be benefited in this first moment and that R$ 50 billion can be renegotiated. At the end of December 2022, Brazil had 69.4 million people with a dirty name, according to data from Serasa Experian. The number grew and reached 71.9 million in May this year.

Track 1 starts in September

Adherence to track 1 of Desenrola should start in September. It is aimed at those who receive up to R$ 2,640 per month or are enrolled in the CadÚnico (Single Registry for Social Programs), and entered the negative list from January 1, 2019, remaining with active debt until December 31, 2022.

Tier 1 will allow you to renegotiate amounts of up to R$ 5,000 in any type of debt, as long as it is not rural credit, real estate financing, operations with funding or third-party risk, and debt with real guarantee. At this stage, debts with water, electricity and telephone operators must be entered.

Payment can be made in cash or in installments over up to 60 months, with the installment starting at R$50, with an interest rate of a maximum of 1.99% per month. According to the Ministry of Finance, the index can be reduced by banks or other financial institutions. The discharge of the amount will be made by Pix, boleto or debit. The grace period will be from 30 to 59 days.

The contracting of the renegotiation will only be done through a digital platform, which will still be created by an operating entity to be announced by the FGO (Fundo Garantidor de Operações), the guarantor of the agreements made in band 1. The debtor will need to have a silver or gold level account on the gov.br portal to join the program. Click here to find out how to get this account.