O volume of consigned credit increased 30% in the last two years and reached a record value, with R$ 516.3 billion contracted this year. According to data from the Central Bank, it is the highest amount ever recorded in this type of loan. The period coincides with the Covid-19 pandemic, a drop in the cost of living due to the impacts of inflation and changes in the regulations for the concession.
The number is from February 2022, the last credit balance released by the Central Bank. In the same period of 2020, the volume was BRL 393.3 billion, and in 2021, BRL 446.7 billion.
The modality is granted to those who have a salary, retirement or pension credited to a current account. Because it is deducted directly from the customer’s payroll or retirement, it is an easy loan option and has one of the lowest rates on the market.
THE cap rate passed in December 2021 to 2.14% per month for payroll-deductible personal loans and 3.06% per month for credit cards.
Since 2020, to face the pandemic, the federal government has edited a provisional measure to increase the limit from 35% to 40% for INSS (National Social Security Institute) retirees and pensioners to contract payroll-deductible credit based on the value of the benefit.
On July 7th, the Federal Senate approved the provisional measure that, in addition to increasing the credit margin to up to 45%, also authorizes this type of loan to those who receive BPC (Continued Payment Benefit), RMC (Lifetime Monthly Income ) and Aid Brazil.
The measure allows you to commit up to 45% of income to a loan. With this, the orientation is to redouble care to benefit from the measure without increasing the indebtedness of families.
For economist Mauro Rochlin, professor of economics at FGV (Fundação Getulio Vargas), what most explains this rise is precisely the change in the regulation of payroll-deductible credit. “During the pandemic, the government had already increased the limit that could be granted by financial institutions for granting payroll loans to each applicant. I think this regulation played a decisive role in this result”, says Rochlin.
Rochlin explains that the scenario is difficult to assess because of the contradictory indicators of the economy, such as the fall in the unemployment rate, at the same time with the forecast of decreasing growth, new high interest rates and falling family consumption.
“It is tempting to say that the situation is more difficult and this has pushed retirees to this type of credit because of the need and the lower cost it represents. However, due to the contradictory scenario, the most evident is that the volume of credit due to the change in the regulation”, analyzes the economist, who foresees a new advance for this type of loan.
If it depends on the retired Antonio Everaldo da Silva, 70 years old, membership should increase. Silva says that he already had five contracts signed at the same time in 2020, at the height of the coronavirus pandemic. “I managed to pay, but I already took out a new loan, and I plan to make another contract by the end of this year”, he says.
Complaints against fraud involving payroll and also about the harassment of financial institutions reached 2,695 in the first half of this year, according to Procon-SP. Despite having reduced compared to last year, which had 5,405 complaints in the first six months, the number is still double the pre-pandemic period.
Most consumers complain that they did not ask for or did not authorize the loan and that, despite having questioned the situation with the bank or financial institution that granted the amount, they were unable to resolve it. In many cases, the problem is only noticed when the first installments begin to be deducted from the account.
Measures created to combat abuse impose a 90-day block on newly granted benefits for taking credits with a direct discount from the INSS payroll. In addition, the Não Me Perturbe platform offers a service to block phone numbers to receive telemarketing calls.
The INSS states that the contracting of any loan is a private commercial transaction, carried out between the person and the financial institution.
“For the insured to be able to perform this type of operation, he needs to unlock his benefit for loans. The person can perform this operation through Meu INSS using the gov.br account (gold or silver seal), or by scheduling an appointment by phone 135 to perform this service in an agency”, says the institute in a note.
If the beneficiary identifies unsolicited loans for their benefit, they must access the website https://www.consumidor.gov.br/ and file the complaint. The address is maintained by Senacon (National Consumer Secretariat), of the Ministry of Justice.
If it is a report of a coup, the INSS recommends that the person also file a report.
Learn how to avoid problems with the consignment
• Do not make any kind of advance or payment to obtain the loan.
• Search and compare interest rates and terms offered by other institutions. In particular, notice the Total Effective Cost – CET, which summarizes, in a single indicator, the price of the operation.
• Check if the financial institution is authorized to operate by the Central Bank and if the institution is in agreement with its paying source; for example, in the case of payroll-deductible loans for INSS retirees and pensioners, whether the institution has an agreement with the INSS.
• Never sign a blank contract or contract proposal.
• Do not accept the intermediation of people with promises to accelerate credit.
• Do not give your bank card or password to third parties.
• Remember that this type of operation represents debts that may affect the management of future personal and family income, due to the monthly commitment of benefits with the payment of the loan.
• If you are interested in carrying out contract portability, it is important to carefully read the information on credit portability.
Source: Central Bank