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The Ministry of Finance revealed additional details about the auction for creditors who will participate in the Desenrola program, an initiative of the federal government.
Launched in July this year, Desenrola is close to moving on to a subsequent stage. According to recent updates from the Ministry of Finance, the proposal is to settle approximately R$ 161.3 billion in Brazilians' financial debts in the coming days. The goal is to help citizens resolve their delinquencies.
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This Thursday (21), Marcos Barbosa Pinto, Secretary of Economic Reforms at the Ministry of Finance, provided several clarifications about the upcoming phase of Desenrola in an interview with the newspaper Folha de São Paulo. “Over-indebtedness is a persistent problem in Brazil, exacerbated by the health crisis,” he stated.
Who Is Eligible
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According to information from the Ministry of Finance, the next cycle of Desenrola will focus on individuals whose per capita income is no more than two minimum wages and who have debts of up to R$ 5,000 accumulated by December 31 of the previous year, corresponding to Tier 1.
With this new phase of Desenrola, it is estimated that around 32 million individuals from all over Brazil will benefit. Of these, approximately 29 million have debts of up to R$ 5,000, while another 16 million are delinquent and registered in the federal government’s CadÚnico system.
People classified in Range 2 will continue to receive assistance, that is, those with a per capita income of up to R$ 20,000 and debts incurred exclusively with banks by the end of last year.
About the Auction
Next Monday (25), the federal government will begin the discount auction. At that time, the more than 700 creditors qualified for Desenrola will state the percentage of discounts they are willing to grant. Only the entities prepared to offer the greatest advantages will be selected.
For auction purposes, the contracts will be divided into several lots, categorized by nine sectors and by the date of the financial delinquency. The sectors are as follows:
- Financial services;
- Securitization companies;
- Retail trade;
- Electricity;
- Telecommunications;
- Education;
- Sanitation;
- Micro and small businesses;
- Other sectors.
Lots will also be organized according to the age of the debt, separated by year: 2019, 2020, 2021 and 2022.
Each lot will have a minimum discount, varying according to the debt group. The Ministry of Finance reports that the average discount should reach 58%.
Desenrola Prospects
The effectiveness of the auction organized by the federal government is still uncertain. Supporters of the measure believe that the method encourages competition among companies to offer better discounts to consumers. However, opponents claim that some companies may find the discounts excessive and decide not to participate.
Desenrola Schedule
Read also: Desenrola Brasil: Debt Renegotiations Anticipated by Major Retailers
The aforementioned auction will last three days, beginning on Monday (25) and concluding on Wednesday (27). For consumers, the selected discounts will be available in the first week of October, according to the Ministry of Finance.
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Once the discount is presented, citizens will be able to settle the debt in full, for amounts up to R$ 20,000, or choose to pay in installments over up to 60 months, with an interest rate of up to 1.99% per month. In the latter case, the Union will guarantee payment.
