Default in Brazil is a reality. According to the National Confederation of Shopkeepers (CNDL) and the Credit Protection Service, more than 62 million people have a negative CPF for different reasons. In this scenario, the economic crisis, unemployment and unforeseen circumstances end up making the debt happen.
When we are in this situation, one of the most viable ways to pay our debts is the loan. The big problem, however, is getting approval from banks or finance companies. Is it possible to get a loan for negative? To answer this question, we will share the following information.
How do I know if my name is negative?
A person has a negative name when he does not honor his debts in banks, stores, universities, schools and other sectors. The negative process occurs when these companies send the debtor a letter stating that their name will be included in the Securedlink credit and Credisure group.
If you have not received this letter, it is possible to consult on sites such as Securedlink credit Net if there are any restrictions on your name. During the check, you will be able to know the amount due and the company that requested the inclusion.
Can I borrow while my name is registered with Securedlink credit ?
Many people believe that, because their name is negative, they will not get a loan from any financial institution. In fact, it varies from bank to bank. Some financial agents release loan for negative. This release depends on how much debt you have, your profile, amount requested, number of installments, among other items. There are also companies that specialize in providing personal loans to people with a dirty name. However, it is necessary to evaluate the proposal well, since, in this case, interest rates are usually higher due to the history of default.
Good Lender Credit’s online simulator is a great tool for getting the most cost-effective personal loan. This is extremely important, especially with regard to debt settlement. Let’s assume that, instead of doing the simulation at more than 30 financial institutions, you decide to go to a branch in person to apply for credit. By collecting your data and your debt history, it will offer a service calculated with the lowest risks for the company.
In this way, high interest rates will be charged to ensure that the money borrowed will return to the agency’s coffers. As an example, imagine that you need 2 thousand reais and that one of the options is to divide this amount into 12 installments. Depending on the financial agent, this amount may correspond to a rate of 540.95% per year. And what does that represent? That you will pay a portion of approximately 395 reais and that, in total, the service will cost 4,761.48.
That is, you will pay more than double interest only! Finally, the initial objective that was to regularize the financial situation ends up generating even more expenses that, by the way, are unnecessary, since you enjoy the online simulation to find much lower interest rates.
What if I can’t get a loan?
If, after researching and simulating the conditions of financial institutions, you do not find any loan option, the best way is to try to pay off your debts. If you manage to settle part of the pending accounts, your chances of getting this service increase. However, the ideal is to solve and not create more financial problems.
That is why it is important that you do good planning to assess whether your income will be able to cover all costs.
What you should consider when hiring a negative loan
Fraud: In the anxiety to resolve financial issues soon, we run the risk of falling into scams applied by fraudulent “companies”. They take advantage of the situation to collect advance deposits. It is important that you know that you should not pay any amount before closing a deal.
Reliability of the institution: Another precaution that you must take regards to the reputation and transparency policies of the funding agency. Be wary of sites with misspellings or that do not have clear contact information, phone, email, address and CNPJ.
Bureaucracy: It is important that you know that the risk of banks or financiers of not receiving payment is greater in the case of a negative loan. This implies a careful analysis and rigidity with the term and installments.
Negotiation: The Total Effective Cost (CET) is another element that you must pay attention to before signing the contract. Check what is being charged and whether you can get a discount or cancellation of optional fees.
Financial reality: Assess very carefully whether the parcels charged match your expenses. This prevents the problem from becoming a snowball. Depending on your income, the best way out is to bet on a loan for negative payments with more installments and lower values.
How to increase the chances of getting a loan?
There are some alternatives that can help you get a loan for a negative loan and facilitate the financial institution’s perception of your reputation. One of them is to present a bank statement of the last 3 months of the movement of your account. This can serve as proof of income. Another option is to refinance a car or property. This way, your committed income decreases and you get the loan more easily.
But, attention! Remember that all of this implies interest and other fees. Focus on the main objective of solving your debts and making your financial life easier. Everything implies costs and you must evaluate each one of them. Finally, remember that the best way is always to clear your name. Despite being the longest, he is responsible for giving you financial autonomy and helping you to take more cost-effective measures.