Have the debts become bigger than your fixed expenses like housing, transportation and food? So know that you are doing something wrong and need to review your latest spending and financial goals. When we are negated (a bad name due to the negative CPF) due to default we risk always paying the interest of the operations.
Legendary has selected tips to help you make peace with your wallet and make the account blue again:
So how to clear my name?
Before paying off your debts and clearing your name, you need to identify who you owe it to if you don’t know. There are two credit protection agencies: Serasa and Boa Vista (popularly known as SPC). Generally, Serasa’s negativity is of the financial system (banks and other financials). If it is for Boa Vista (SPC), most cases are due to trade debts.
- Serasa : Read here how to clear your name with this institution;
- Boa Vista (SCP) : Read here how to clear your name with this institution.
Your debts hate financial planning, you know that?
Exactly! The more you plan, the less unforeseen financial you will have and the chances of you being negated by default as well. Why? With financial planning you can map all your expenses in the month, based on your monthly incomes, and identify which expenses are unnecessary and can be cut.
Personal loan pays off in this case?
We need to evaluate very carefully because, as posted in previous posts, personal loan for negatives has a high interest rate. In some financials, the average monthly interest rate is over 20%, as in Crefisa. In addition, most banks and lenders do not lend to people with a negative name.
Beware of the pitfalls! Do not believe in easy money
Your debts are getting you sleepy, but you need to be careful about the pitfalls. Often, supposed financial offers offer quick and easy money to anyone who is negative. However, some of them are just facades for a blow. So when someone requests some kind of deposit to release the credit, run away! This practice is illegal and is not authorized by the Central Bank (BC).
According to Article 43 of the Consumer Protection Code (CDC), the consumer’s name should be excluded from negative entries after 5 years. Even though the debt has not yet been paid off. The maximum term for the withdrawal of the consumer’s name from the Serasa and SPC records is 5 (five) days after the payment of the debt.