Recently, the National Institute of Social Security (INSS) announced an update that has raised concerns among its beneficiaries. The change concerns the consignable margin, that is, the percentage of income that can be committed to payroll loans. Previously, beneficiaries could commit up to 35% of their income to these loans, but now, this margin has been reduced.
The concern is palpable among retirees and pensioners, who often resort to payroll loans to cover essential expenses. With the reduction in margin, many may find themselves in tight financial situations, having less access to credit in times of need. In addition, the change may impact those who already have active loans, as adjustments to current contracts may be necessary, leading to a possible review of payment conditions.
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Impacts of the reduction of the INSS consignable margin
The reduction in the margin available for assignment by the INSS does not only affect the ability to take out new loans. It could also lead to an increase in the search for credit alternatives with higher interest rates, putting beneficiaries in an even more delicate financial situation. In addition, the change could cause confusion and uncertainty, especially for those who were already planning financial commitments based on the previous margin.
It is crucial that INSS beneficiaries stay informed about these changes and seek appropriate financial advice to adjust their plans and budgets. Fully understanding the implications of this update can help mitigate negative impacts and ensure safer and more efficient financial management.
Strategies to face the new consignable margin
Given this new reality, it is essential that INSS beneficiaries adopt strategies to deal with the reduction in their available credit margin. This may include reassessing and adjusting the family budget, seeking alternative sources of supplemental income, or consulting financial experts to restructure existing debts. In addition, it is important to explore all available credit options, carefully considering interest rates and payment terms.
Staying informed about INSS policies and changes in the financial market is also crucial. This allows beneficiaries to make more informed decisions and better prepare for financial challenges that may arise. With proper planning and guidance, it is possible to face this change in a safer and more sustainable way.
