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The Desenrola initiative also addresses alternatives for credit card revolving interest. Find out!
This week, the Chamber of Deputies will put the Desenrola Brasil bill to a vote. This federal debt renegotiation scheme is already operating and serves certain income brackets. However, the main focus is on the measures the government will announce for credit card revolving credit.
According to the proposed bill, the interest rate in this segment could be capped at 100%. In this situation, the percentages applied would not exceed the total amount of the debt. This will be established if the banking sector does not propose alternatives.
Regarding Desenrola, the government plans to establish regulations now. If everything proceeds as planned, a new phase of the program will unfold in September, focusing on a different audience.
Read also: Desenrola Brasil: Debt Renegotiations Anticipated by Major Retailers
Credit card revolving credit represents the highest cost in the sector
Adjusting the interest rate on credit card revolving credit – the most expensive option on the market – is in line with the debt renegotiation scheme, aiming to reduce the level of indebtedness among Brazilians.
For context, in June, the interest rate exceeded 400%. According to the Central Bank (BC), in this scenario, the interest rate stands at around 15% per year.
Users resort to credit card revolving credit when they do not pay their statement in full by the due date. Thus, the remaining balance evolves into a form of loan and grows over time.
Desenrola: debt restructuring strategy
Read also: Desenrola Brasil begins second renegotiation phase: Find out who can benefit now
The Federal Government launched Desenrola Brasil to assist the many indebted Brazilians. Therefore, through this plan, the participating banks offer more favorable payment conditions and varying discounts.
In the first stage, Tier 2, which includes individuals with incomes between R$2,640 and R$20,000, have the opportunity to negotiate directly with financial institutions. In September, the focus will probably shift to citizens earning up to two minimum wages and registered with the Single Registry (CadÚnico).
