Economists criticize lack of financial education in the 1st phase of the program; suggest planning after renegotiation
With R$ 8.1 billion in renegotiated bank debts, according to the most recent balance of February (Brazilian Federation of Banks), the Desenrola program completed its 1st month on Thursday (17.Aug.2023) with 985,000 customers served.
Despite the success of the initiative, which will be expanded to non-bank debts in the coming weeks, economists recommend care with the consumer who cleans the name.
The main criticism concerns the lack of financial education in the 1st phase of the program, which removed debts of up to R$ 100 from negative records and is refinancing debts with financial institutions of customers earning up to R$ 20,000. Without proper planning, warn economists, the relief could be short-lived, with account holders falling into debt again.
The main point of attention concerns debts of up to R$ 100. As a condition for joining Desenrola, financial institutions cleared the name of those who owed up to this amount, but the debts did not cease to exist, continuing to be corrected with interest.
“This measure aimed to liberate consumption. When there is a denegativation, the consumer can go back to the installment plan, but this does not imply the discharge of the debt”clarifies the Professor of Finance at the ibmec Gilberto Braga. With average interest of 59.9% per year on loans to individuals, according to the most recent data from the central bankthese debts double in 1 year and a half.
NEGATIVE REGISTRATION
According to Febraban, 5 million records of debts of up to R$100 were removed from negative records until July 27, 2023, when the process was closed.
In most cases, debits of this amount relate to forgotten accounts at financial institutions on which fees continue to apply. However, many account holders did not even find out about the existence of these debts because they did not check their account statements or virtual wallets.
“In reality, everyone needs to be very careful. The first step, after being removed from the list of defaulters, is to immediately settle this small debt as quickly as possible.”, warns the coordinator of the Financial Management MBA at FGV (Fundação Getulio Vargas), Ricardo Teixeira.
FINANCIAL EDUCATION
Regarding Track 2 of Desenrola, economists agree with the need for planning on the part of account holders so as not to get into debt after the renegotiation.
“For those who paid debts in installments, the best thing to do is honor these renegotiated commitments. The idea is to first pay off these commitments and then, if necessary, go into debt”said Teixeira.
“If in the renegotiation the installment is too low, allowing you to safely consume again immediately, you can do that, but within a very responsible planning”he adds.
For professor Gilberto Braga, the main criticism of Desenrola, so far, concerns the lack of a financial re-education program. Although some banks promote clarification campaigns through videos for those who renegotiate debts, this is not a mandatory condition for joining renegotiations.
“Desenrola offers a plausible solution for the debt, but it does not come with a process of financial re-education. I think it would be interesting to make available a form of help for people to be able to plan better in relation to their budgets”says Braga.
The ordinance that created Desenrola will have financial education courses only for the 2nd stage of the program, which will offer discounts for Level 1, which includes non-bank debts. The courses will be offered on the electronic platform built by B3, the Brazilian Stock Exchange, which will auction the discounts offered by the companies, but they will not be necessary to adhere to the installment plans. The client can even start attending classes and abandon the course, without impeding renegotiations.
Scheduled to be released in September, band 1 covers debtors enrolled in the CadÚnico (Single Registry for Federal Government Social Programs) or monthly income of up to 2 minimum wages, who have debts of up to R$ 5,000 with companies outside the financial system. The category includes water, energy, gas and trade credit concessionaires.
SCAMS
Another point that account holders need to be aware of concerns scams. Since the launch of Desenrola, virtual fraudsters have sent links via email, SMS or messaging apps that offer false renegotiations. Those who click run the risk of having their cell phone or computer hacked or entering a fake page, renegotiating and transferring money to criminals.
At this stage of the Development, it is up to the account holder to seek out financial institutions to express interest in renegotiating debts. Always through official channels: app, websites or face-to-face service at branches, never answering calls from unknown numbers or clicking on links sent.
“Desenrola is a passive program. It is the debtor’s initiative to seek one of the official sources for the renegotiation. There is no initiative in the opposite direction, for the creditor to approach the debtor”concludes Braga.
With information from Brazil Agency
#Experts #recommend #caution #Desenrolla