The federal program Desenrola Brasil received the registration of 924 companies interested in renegotiating client and consumer debts. The deadline for registration ended on Tuesday (12). The number of companies interested in the government’s initiative was released by the Ministry of Finance on Wednesday night (13).
According to the ministry, registered companies hold 86% of debts of up to R$5,000 outstanding in the country. The new phase of Desenrola, called track 1, aims to renegotiate debts with this value.
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The program will now promote a type of auction with companies registered in the initiative. The companies that offer the biggest discounts to their customers to pay off outstanding debts will win the auction.
The National Treasury’s Operations Guarantee Fund (FGO) will guarantee the payment of debts for the companies that win the auction – that is, if the debtor client does not pay off their debt even with the discount, the government will make the payment. R$7.5 billion were reserved by the FGO to serve as a guarantee.
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The Desenrola auction should be held at the end of next week, on the São Paulo stock exchange, B3. It will be divided by type of debt: bank, such as credit cards, and non-bank, such as water or energy and commerce utilities.
Even creditors who are not covered by the FGO will be able to renegotiate on the Desenrola platform, but with smaller discounts.
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After the auction, for debtors to participate in the renegotiation, they will need to have a silver or gold level account on the Gov.br Portal. Login to the federal government’s single service portal is a necessary condition to enter the auction platform.
Debtors who earn up to two minimum wages or who are registered in the Single Registry for Social Programs, CadÚnico, can renegotiate debts through band 1 of Desenrola.
In the first phase of Desenrola, which came into force in July and covered band 2, financial institutions renegotiated debts of any amount with debtors with income of up to R$20,000 and outside CadÚnico. This allowed the refinancing of properties and vehicles, for example.
According to the most recent balance sheet from the Brazilian Federation of Banks (Febraban), since July 17, R$11.7 billion of debts with financial institutions have been renegotiated. The number of renegotiated contracts reaches 1.6 million, benefiting 1.25 million customers (since a customer can have more than one debt contract).
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In addition to the renegotiations, band 2 cleared the names of 6 million people with debts of up to R$100 due by December 31st of last year. The debt was not forgiven. Only the debtor no longer had a bad name and was authorized to take out new loans and carry out operations such as entering into rental contracts.
The incentive for financial institutions to participate in the first phase occurred through the anticipation of presumed tax credits, which allow tax payments to be deducted. For every R$1 discount granted to debtors, the financial institution recorded R$1 of presumed credit on the balance sheet. The government offered up to R$50 billion in advance tax credits to banks. The measure has no impact on the Budget because the government anticipated tax discounts in a few months.
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*With information from Agência Brasil
Editing: Vivian Virissimo