Advertisements
Desenrola: The Renegotiation Initiative and Its Challenges. As it celebrated its first month last Thursday, the 17th, the Desenrola program had already helped renegotiate R$8.1 billion in bank debt, benefiting around 985,000 customers, according to the latest data from the Brazilian Federation of Banks (Febraban).
However, although the initiative has been successful and is about to expand to include non-bank debts, economics experts are warning consumers who are settling their outstanding debts. The main concern focuses on the lack of financial guidance during the program's initial phase. This program, which allowed customers with incomes of up to R$20,000 to refinance their debts, could see these same customers becoming indebted again if there is no proper planning.
Advertisements
A critical issue concerns debts of up to R$ 100. By joining Desenrola, financial institutions cleared the names of those who had debts up to this amount. However, these debts remain, accumulating interest. “The intention was to stimulate consumption. Removing the negative credit listing allows the customer to regain access to credit, but it does not mean that the debt has been settled,” observes Gilberto Braga, professor of Finance at Ibmec. With an average annual interest rate of 59.9% on personal loans, debts can double in just 18 months.
The Imperative Need for Financial Education
Read also: Desenrola Brasil: Debt Renegotiations Anticipated by Major Retailers
Regarding the second phase of Desenrola, economists emphasize the importance of planning on the part of customers after renegotiation. “After restructuring the debt, it is crucial to prioritize the payment of these obligations. The goal should be to settle these commitments before taking on new debts,” Teixeira points out.
However, for Braga, the main objection to Desenrola lies in the absence of a robust financial education program. Although some banking institutions offer guidance through videos, it is not a requirement to join the program. “Desenrola provides a tangible solution to debt, but lacks a continuous financial education plan. It would be useful to provide resources to help people manage their budgets more effectively,” Braga reflects.
The regulations governing Desenrola stipulate financial education courses only for its second phase, which will offer discounts on non-bank debts. These courses will be provided through a digital platform developed by B3, but they are not mandatory for participating in the renegotiations.
The Future of Desenrola and Bracket 1
Read also: Learn everything about Values to Receive
Scheduled for September, Track 1 of Desenrola aims to assist debtors registered in the Single Registry for Social Programs of the Federal Government (CadÚnico) or those with a monthly income of up to two minimum wages and debts of up to R$5,000 with entities outside the financial sector. This includes public utility companies and retailers.
