Controlling the monthly budget and accounting for all obligations can be a tremendous challenge for people. Dismissal, divorce, illness… there are so many reasons why someone fails to repay the loan, few really know the real damage to those who default.
Even if the delay is a few days, there are already consequences for your finances. And the more days you keep ignoring the payment, the situation tends to get worse.
With that in mind, here are 7 reasons why you should turn on the yellow light on your bills and never stop repaying the loan.
Dirty name on the square
Each time the consumer fails to meet any financial commitment, including loans, he runs the risk of being placed by the lender (the company that has lent money) in the default register of SPC Brazil, Serasa Experian or Boa Vista SCPC. In other words, the consumer may get what is called a “dirty name”.
Although delaying, even if for a few days, is not good, the Consumer Protection Code guarantees that you will have ten days after the due date to pay off your debts before being included. in the meantime, you should be informed about the situation by the lending company. After paying the amount, your name is removed from registration within five days.
The situation may not resemble the scene of Cersei walking naked on the walk of shame of Game of Thrones (oops, spoiler!), But the feeling of the person named after us debtor banks as if everyone knows about their secrets. And that can bring you consequences…
Bad history, lowest score
If you do not repay the personal loan, this information will be recorded, pen, not pencil. It may be years, but your name will be noted. If you need something up front, the company will refer to this score, a report that shows not only a score, but also your debt repayment behavior. . Late loans lower this score value which decreases the chances of getting new products. The world of twists, isn’t it?
Another big damage to the dirty-name is the credit constraint, which can be a tremendous headache for people who plan, for example, to finance a property or car. . Before giving you money, the company, even if it is not the same as the one for whom you did not repay the loan, will consult the delinquent entries. credit, loan arrears can be a problem.
Interest on late payments
Every time you do not pay the installment you will have to bear the so-called arrears interest, a percentage rate charged according to the time delay. This means that the initial planning you had made to pay a certain amount will no longer be fulfilled. It will become increasingly expensive not to settle this account, which leads us to the fourth reason why we do not delay loans.
As long as you do not repay the loan, interest accrues. And as the rate builds up, the amount of debt increases, which can make the account priceless. The upshot is: Interest charges can greatly increase your debt. Therefore, it is best to keep your financial commitments up to date so as not to end up with even greater debt.
The next step after having the dirty name is to be charged in court. It is a right of the company to collect due debt. This can mean years of legal struggle and in the end the amount will have to be paid.
Having a dirty name is not an impediment to taking public office, but public financial institutions can make this restriction by placing it in the notice. There is usually a deadline for the person to rectify the situation. But why not pay tomorrow, which you can afford today, right?
Of course, if you have questions on how to organize finances, count on us! We have the application that helps you and the service channel for you to answer your questions.