The rule is valid for the entire country; in São Paulo, the measure should benefit at least 4 million people
People who have a protested debt or are in debt CPF (Register of Individuals) or CNPJ (National Registry of Legal Entities) of the defaulting company can renegotiate the debts directly at the protest offices in their cities.
The decision allowing this renegotiation was published by the National Justice Inspectorate in Official Gazette of Justice (Provision 168 of 24) and establishes negotiation solutions both in cases where the protest has already taken place and in situations where the creditor has sent the debt to the notary’s office, but the debtor is still within the payment deadline.
The rule is valid for the entire country. In São Paulo, the measure should benefit at least 4 million people, according to estimates by Ieptb-SP (Brazilian Title Protest Studies Institute-São Paulo Section). According to the institute, this alternative will contribute to reducing the demands that reach the Judiciary.
In both situations, the creditor may offer a negotiated solution proposal to the debtor, who will be notified by the Protest Office and will have 30 days to respond to the proposal. If the proposal is positive, the already protested debtor will have his/her name cleared immediately after payment. The entire process can be done online and electronically (email, SMS, WhatsApp).
“It will also be up to the creditor to send the debt information and the debtor’s data to the protest registry, with elements that allow the identification and location of the debtor for an electronic invitation to carry out the proposed negotiation solution prior to the protest, as well as their bank details and period to be granted to the debtor for the right to respond from the date of the summons – subject to the 30-day limit”reported Ieptb-SP.
According to the president of the institute, José Carlos Alves, the possibility for people to negotiate their debts at protest offices is another way to contribute to reducing defaults and the cost of credit in Brazil, improving the business environment and promoting greater citizenship financial support to the population.
‘The sooner the debt is paid off, the better for the creditor, who is able to satisfy his credit, as well as for the debtor, who is again without credit restrictions in the market”he said.
The Ieptb-SP also stated that the measure also applies to public entities, which collect their unpaid tax or non-tax credits through notary offices, as in the case of traffic fines, taxes such as IPVA (on Motor Vehicle Ownership), IPTU (on Urban Property and Land), ICMS (on Circulation of Goods and Services) and Income Tax.
“This is another mechanism that enables a prior solution between the parties before a possible financial restriction”said José Carlos Alves.
With information from Brazil Agency.
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