Clipping of news on Brazilian Culture, Law and Citizenship
21/07/2014
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Advance loan options have rates ranging between 4% and 7%. The value can be used to settle debt of more hefty fees. Photo: Douglas Macedo
Anticipating the money usually comes at the end of the year may be the solution to debt. Experts call attention to the interest rates charged by financial institutions
With the approaching end of the year many workers feel the need to adjust spending and revise the debts made during the year. Therefore, the anticipation of the 13th salary becomes an alternative. However, experts warn that seek this feature is not always the best option. Those who think of doing this type of loan must be aware of the interest rates that are offered before closing the deal.
To Marcio Pereira Nunes, professor of economics at the College Mackenzie River, the loan is a good option only for those accounts with the red and need to pay for loans that have already contracted previously.
In such cases, you need to assess if the interest rates are lower than the anticipation that the longer the debt. On the banks of the options anticipation loan have rates ranging between 4% and 7%, and anticipate that may reach values up to 100% of the 13th salary, money that can be used to settle debts of more hefty fees.
"In this credit facility, the institution shall pay, in advance, the salary of the person who pays the bank at the end of the year. This is not a good option if one wants the loan to purchase a product, how to replace your smartphone, buy a computer or other consumer good. That is not a valid thing, it will have to pay higher interest rates for a product that waiting a few months, could buy in sight. The greatest risk in this type of loan is that during those months between the loan and the date that should be received 13 the borrower may be dismissed and keep the debt from advancing the action, and having to pay the loan without recourse to more than he should have, "said
Pereira Nunes says that for those with a high debt on overdraft or credit card anticipation of the 13th salary is a great option. Despite the risk of being fired still exists, a debt with a rate that ranges between 6% and 9% on the check and you spend 10% in the case of cards, for a debt with rates that can reach half of this modality loan.
"Say I'm a debt on overdraft for some financial difficulty. The interest rate of the check is higher than the anticipation and, in these cases, is a good deal because change a line of credit with high fees for one with lower rates. Always warn that one should compare the interest rates of bank to bank to make the anticipation. Depending on the situation the interest may be the same, but overall, this loan option always has lower interest and worth in cases of debt, "defined.
But what makes the anticipation of the 13th salary as attractive loan? The advantage is the more likely, by the banks, to receive payment of the credit line borrowed. "The advantage is within, short, not three years as a personal loan and the bank's right to receive cash as payment of the 13th salary does not compromise the monthly income of the contractor. Unlike taking an ordinary loan where the period is longer and the payment is based on the monthly income of the contractor, the one with which the day to day we live, "said Nunes.
The counter Antônio Luiz Rio Apa, Consultancy Rio Apa Accounting, draws attention to the case of public employees and retirees, as payroll loans payroll deduction that are offered for them to have lower rates than the anticipation of the 13th salary and in such cases be a more viable and more affordable option, in addition to having more time to pay and not lose money over year end. "In an instance where the public official wants to anticipate a sum of £ 1500 salary of 13, the rates can be up to 7% in the bank with which you work. Despite being smaller than the card and overdraft, payroll loans, that same bank, can reach 3%, "he said.
Rio Apa says that the factor that makes payroll loans, with payroll deduction, have low rates are the same to ensure the achievement of the anticipation of the 13th salary: making sure that the bank will get paid. This is because the chances of a public official to be fired from a job is almost zero, which guarantees to banks for payment of the peace agreement and the contract term does not become a risk.
"The risk factor is what regulates the interest rates of any type of bank loan and, in the case of payroll deduction, the risk is almost zero. That's what makes it to the bank and the contractor, a more advantageous deal, "he said.
Anticipating Income Tax is not always advantage
Another credit line that follows the same lines as the anticipation of the 13th salary is the anticipation of income tax, which begins to be contemplated with the disclosure made by the Federal Government of commencement of payment of refunds of IR. With so many banks have already started offering the option of anticipation that value to taxpayers.
According Márcio Pereira Nunes, is not always a beneficial option and therefore we must be alert to the interest rates charged by financial institutions. "The way it is the 13th salary, only pays in cases of debt, but it is not advised to buy consumer goods. However, there are some situations are different. There is an unpredictability that the contractor receive your refund, it can fall into the fine mesh of the IRS. With this, the person is without refund and will have to renegotiate the debt with the bank, pay the monthly salary and run out of money at the end of the month, "he said.
What makes advance IR a good deal is that it works the same way as the anticipation of the 13th salary, with the short term and be sure to receive and payment in months, not years, as in ordinary personal loan, the lowest rates are guaranteed. But if the taxpayer wants to make the anticipation, he must be aware of three important points. "The rates vary from bank to bank and can spend 3% per month. The percentage of the refund which will be anticipated by the bank, is not always the full value. Furthermore, there is always a possible change in the date of return of Income Tax. If the IRS does not pay on schedule, it will not be passed on to the bank on time, then the taxpayer's debt with the bank will have to be refinanced, "warned Pereira Nunes.
Source: Fluminense
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This article was translated by an automatic translation system, and was therefore not reviewed by people.