Loan for negatives: how it works and how to get it
The economic crisis and unemployment contributed to the indebtedness of the Brazilian. According to data from the Credit Protection Service (SPC Brazil) 62 million are negative, that is, with the “dirty name”.
When you are down, it is very difficult to get an approved loan application, but there are some financial institutions that make loans available to those in this situation.
What is loan to negative?
Being with the dirty name means that the CPF is registered in organs of restriction of credit, like for example SPC and Serasa. This occurs when you stop paying any bills for any reason. When the name is negative, it becomes more difficult to obtain financing, loans and installment accounts.
Banks and commercial establishments consult the information registered in the credit restriction bodies. If the customer’s name is dirty, these establishments understand that he is not a good payer, and in order to avoid losses, they restrict the provision of services or fail to sell on time for defaulters. It is also harder to get loans and financing.
Except that it is precisely at this point in time that the negative most need credit to pay the bills and clear the name. Some financial institutions that do not consult with credit protection agencies (SPC / Serasa / CCF) offer personal credit to negatives, but it is important to consider some points before applying for the loan.
If you want to look for the best loan option for your profile, check out the IQ 360 Loan Simulator below:
Loan for negative, when to do?
Before taking out a loan to negative, consult well the institutions, the applied interest and if you have conditions to pay the installments. Since interest rates are often high, a negative loan is an option for emergencies and immediate solutions.
Although not always so advantageous, when availing these lines of credit, it is possible to pay off debts and clear the name. Care should be taken not to get into debt even further.
It is important to look for loans with more benefits and lower values and to carefully assess the portion that fits in the pocket. Just make a negotiation that you can maintain over time. It is also important to be aware of debt portability opportunity for banks with lower rates.
When not to make a negative loan
The loan to the debtor usually has very high interest rates. If you are not sure that you will be able to pay the installments, the loan is not a good option, as there are chances of getting even more debt.
In addition to financial planning because of high interest rates, it is important to take care not to fall into scams. Fraudulent companies usually require that an early deposit be made and disappear with the money.
Do not believe in tempting solutions and proposals without first being certified directly with the institution. Criminals identify themselves as serious institutions, so avoid responding to unknown e-mails.
Other options for negatives
Financial institutions are more cautious about releasing a loan for someone with the dirty name and end up making it difficult to approve personal credit. However, there are other credit options for negatives in the market.
Currently, three types of credit are available for negatives: payroll loans, real estate refinancing and vehicle refinancing.
- Payroll loan
Retirees, pensioners and civil servants have the option of the payroll loan even if they are negative. In this case, the payment is deducted from the payroll or, in the case of retirees or pensioners, directly from the INSS benefit.
As banks and financiers are guaranteed payment, this type of loan usually has lower interest rates.
- Refinancing of property
This modality of personal credit is destined to people who have own property and removed. In this case, the property enters as collateral in the loan. If you fail to pay the loan, the property can be taken by the bank.
Depending on the institution, you can get a loan of up to 60% of the value of the property. As if you have a guarantee, the value of the loan is usually higher and the interest lower than a loan for negative.
- Vehicle Refinancing
Following the same line of real estate refinancing, vehicle refinancing uses as collateral a car or motorcycle, if these are removed.
The amount of the loan varies according to the institution, but will always be proportional to the value of the vehicle. So the newer the vehicle, the better the loan conditions.