Clipping of news on Brazilian Culture, Law and Citizenship
10.21.2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Credit cards
Credit cards: if the consumer does not sign the letter with return receipt requested, his name can not be included in the default list
Law No. 15,659, implemented in São Paulo, which makes it mandatory notice to the debtor on their entry into the country defaulted list, should further complicate the already difficult situation of trade, limiting the term sales and installment sales, analysts say .
Besides the risk of selling to a defaulter, the law will increase by seven times the cost of the merchant to include the borrower blacklisted.
The text provides that if the consumer does not sign the letter with return receipt requested, his name can not be included in the default list.
In the analysis of economist Boa Vista SCPC, Flávio Calife, the decision will have a strong impact on the economy, since Sao Paulo is 30% of the national credit.
"If it really keeps happening, we'll expect a significant decrease in credit in São Paulo and, when it happens in a region, mainly an important region, has just reflecting for other regions as well," he says.
"In addition, the person who is spreading the default ends up spreading the increased risk for the whole country as well," he adds.
Suspended indicators
Serasa Experian suspended the release of their default indicators under the law, authored by Mr Rui Falcão (PT).
Among the studies that will be suspended by the company are the indicator Serasa Experian Consumer and Business Delinquency and Default Perspective of Consumer and Business.
In a statement, Serasa Experian said the decision commits "the indices and research Serasa Experian society and endangering the credit market because it prevents the operation of the credit protection agencies and stimulates the protest in office, leaving more expensive and time consuming process for the consumer to "clean up" the name. "
Higher cost and selection of included in the register
Already Boa Vista SCPC kept their indicators, based on the number of letters as a reference to São Paulo. "We came to the conclusion that it was within the standard," says economist Flavio Calife.
However, the decision will need to be re-evaluated in the coming months.
Calife believes that another effect is that not all borrowers will be included in the register as today. "What may start happening is that many companies will begin to select who they will send to the registration," he says.
That's because the new account will cost nearly seven times more to be done, given the new price chart. "If this starts to happen, you start to lose information and the indicator becomes compromised and we will have to suspend it."
TJ-SP injunction overturned
The law, authored by state deputy Rui Falcão (PT), was approved in March but was suspended by an injunction in the same month. But the São Paulo Court of Justice (TJ-SP) now overturned the injunction and the law came into force.
More costs and bureaucracy
The President of the Maximum Bank, Saul Sabbá, criticized the new law, since the decision is expected to increase bureaucracy and costs of banks and financial institutions, which will be passed on to the customer credit financing interest rates and the consumer who pays for day .
For him, the ideal would be to use the positive list system, which even begins to be implemented in Brazil, in which the applicant's payment history know if the funding.
"I like the American or Canadian model, positive credit," he says. "The good payer has a high rating with the credit agencies and so is contemplated with lower interest rates and bad credit rating is less, pay more interest and sometimes can not finance," he adds.
Early warning
The law determines the sending of mail with return receipt requested (AR) for consumers with overdue debt before sending the name to the default list. The letter AR replaces the simple correspondence, previously used.
Serasa claims that the simple letter has "proven" and that in 2014 only two complaints were made to the Procon regarding its non-receipt.
According to data from Serasa, with the new law, only 3% of default by the state of São Paulo was recorded in September, which has the weight of 30% of the country defaulted.
That's because much of the RAs sent has not returned or returned without the signature of the debtors.
Stimulus to protests
As well as higher costs for correspondence, the law exempts the AR letter delivery obligation in the case of debts previously protested notarized or challenged in judicial proceedings, which goes against the Consumer Protection Code and will encourage creditors to protest over debtors.
"Encouraging the use of the registry office in protest creates bureaucracy and cost to the process of" cleaning "your name", says Serasa.
This is because the debt challenged notarized implies the debt of public exposure if the debtor is not found, the consumer going to the notary and the debt record.
In addition, the fee for the notary wipe the consumer's name may reach 30% of the objected value, according SERASA. A survey of economist Marcos Lisboa points out that consumer spending with notaries may reach $ 5 billion in a year.
The interest installment sales should rise
With 97% of defaulters out of the system for the delay in completion of the process with the AR, the market was without knowledge of your current condition, evaluates the Serasa.
And this situation raises "the risk in lending and hence the interest charged all delinquent citizens or not."
This is because the lender is not much to predict consumer likely to become or not in default and the risk does increase the difficulty in granting credit.
Source: Survey
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This article was translated by an automatic translation system, and was therefore not reviewed by people.