Clipping of news on Brazilian Culture, Law and Citizenship
09/01/2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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View Idec guidelines and alternatives to reduce or get rid of debt
The salary falls and you hardly see; the bills pile up even making a lot of "juggling" to try to pay them. If you identify with these statements, know that is not the only one. Many consumers go through this financial imbalance and have high costs, such as financing a car, you can aggravate it.
But then, what to do when you are not longer able to pay the car installments? Next, the IDEC provides answers and guidance to the main concerns of consumers.
The bank may return the vehicle if I delay the plots?
Yes. Since the end of 2014, Law 13,043 / 14 facilitates the procedures for search and seizure. When the own vehicle is given as collateral in financing (the so-called leasing), with only one day of delay in payment the bank or financial can now resume well. For this, the institution must enter a search and seizure action and send a registered letter to the debtor, return receipt requested, to notify you of the procedure. See here for more information and guidance on the subject.
Renegotiate the debt is a good solution?
Renegotiate can be a good outlet at the time of tightening, especially for those who do not want to lose the car. But it is important to remember that in this case, the debt will not decrease. In fact, it is likely to increase. In the renegotiation, the tendency is to look for the consumer pay a lower value, however, this means that the number of shares will increase and consequently the incidence of interest.
Another alternative is to renegotiate the financing from another bank through the credit portability. The consumer can assess whether an institution offers more favorable conditions and request the migration of debt to him. If accepted, the new lender will handle the case with the bank "old". Attention: portability can not be charged.
Can I resell the car to the dealership?
You can resell the car to own dealership where you purchased it, to another store or even on an individual and with the acquired value, pay off part of the debt. However, hardly you will obtain all the money it should, since the financing involves interest. But with the sale, may settle part of the debt and renegotiate the balance. In that case, stay tuned, because there must always be proportional discount interest for early payment.
Another possibility is to sell the car at auction held by financial or own bank, to offset part of the debt.
Can I exchange the car for a cheaper?
This alternative is possible, however it follows the same logic of the resale of the vehicle: a part of the money will probably be lost. In exchange, hardly the store return money to the customer, therefore, to leave the dealership, the car has already lost about 20% of their purchase value.
My debt can be transferred to someone else?
Yes, since there is no portion in arrears. For this, you must go to the bank or financial where funding was held for the institution to assess the new buyer profile and make sure it is able to pay for that debt. After the analysis, the transfer must be consolidated in the vehicle documentation with the DMV. The procedure involves some fees, either in the bank or financial as in the transit agency.
Source: Idec
To access the IDEC website, click here.
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This article was translated by an automatic translation system, and was therefore not reviewed by people.