What happens if credit debt is not paid? – What is the Legal Process?

There are certain deadlines that credit debts have to be paid legally. Banks have the right to enforce various sanctions when payments are not made within these periods. When signing various documents during the loan application process, individuals accept this situation and cannot claim any rights later.

What happens if credit debt is not paid? For those asking, it should be said that banks first went to downgrade their credit ratings. Legal follow-up processes will start if the payment is not made for a certain period of time.

What is Legal Tracking?

What is Legal Tracking?

If the loan debts are not paid, the banks continue to decrease their credit ratings for a certain period of time. Banks subsequently initiate legal proceedings as a last resort if people continue to refuse to pay monthly terms.

Legal follow-up is known as being a lawyer among the public. Banks transfer all transactions to lawyers in this process. A final debt configuration is drawn up through lawyers and you are asked to pay the money within 1 week. If this call is not answered, banks may apply for a lien.

How Many Days I Do Not Pay My Credit Debt Legal Tracking Begins?

Legally, banks cannot apply for legal proceedings directly. Here, a certain amount of time has to pass and the relevant legal deadlines have to expire. In order for legal proceedings to begin, individuals must not have paid the bank in any way for 3 months (90 days). If the debt delay is below this period, banks will not be able to apply for legal proceedings.

If I Don’t Pay My Loan Debt, Will Foreclosure Come?

If I Don

The last sanction applied by banks due to their unpaid credit debts will generally be foreclosures. Legally every bank has the right to apply foreclosures due to unpaid debts. This situation is clearly stated in all loan agreements. Of course, there is no direct initiation of lien.

First of all, only your credit score is reduced for a certain period of time. Legal proceedings then begin, and a final warning is drawn to you through lawyers. If you do not respond to this warning, foreclosure begins. However, the foreclosure application can only be done in the households that are legally registered to you. In addition, if there is a guarantor in the loan, a foreclosure process begins for that person.

Is there a prison sentence for credit debt?

Is there a prison sentence for credit debt?

Consumer Laws contain very sharp items that protect the rights of citizens regarding credit card debts. According to the article stated here, no citizen can be imprisoned for his credit debts. In this respect, it is not even possible to get this kind of punishment because of the debts.

However, an exception should be mentioned here. If you still do not pay after signing the payment plan that the lawyers sent to you during the legal proceedings, this could result in imprisonment. For this reason, if you do not have the power to pay the debt, do not sign the documents submitted by lawyers in legal proceedings.

How Do I Pay My Credit Debt?

Various facilities have been created recently to cover credit debts. Debt structuring comes first. If your debt in a bank has increased considerably, contact the bank to request a configuration. In this case, instead of paying the entire debt, you pay in monthly terms. However, it should be said that banks do not respond positively to every configuration request.

At this stage, your willingness to pay back is very important. Apart from this, we can say that some banks lend loans. It will be possible to close your debt in one bank with a loan you will receive from another bank. However, for this, the credit registry should not be too bad. Blacklisted people or people who eat red pens from banks will have a hard time getting loans closing loans.

Group debts with mortgage: main advantages

Do you know what is the grouping of debts with mortgage ? What do you know about reunifying debts? What are the advantages of performing this type of credit pool ? Nowadays it is increasingly common to hear our relatives talk about this type of procedure, but do you know what exactly the reunification of loans is? Do not panic! It is very simple, a grouping of debts basically consists of unifying all the debts that we have pending in a single installment.


What exactly is grouping debt with mortgage?

debt with mortgage?

We explain it to you better through a practical example; imagine that Laura has to pay her mortgage, the car credit and, finally, the loan to buy the kitchen furniture. The sum of all these credits implies a high expense, while when grouping debts , the monthly installment will be less than the sum of all debts separately.

As you have been able to read, the main advantage of grouping debts is the payment of a single fee, but in addition, there is also the great advantage that this fee is lower. This is an ideal solution when we observe that the debts are overwhelming us and we need a break to reach the end of the month.

In this post, we are going to tell you what exactly to reunify debts with mortgage .


Who is responsible for reunifying mortgage debts?

mortgage debts?

Although the reunification of debts can be processed in your financial institution, there is an inconvenience, they can only group the debts that you have contracted with them. If you have various debts contracted with different financiers, you will have to go to a negotiating agency .

The negotiating agencies , such as Pardillo Consultores , will be in charge of reunifying all your loans that you have contracted with different banks in a single installment. Therefore, first analyze what type of credits you have and with what financial ones. And of course, the negotiating agencies will help you process the mortgage debt pool .


How does grouping debt with mortgage work?

How does grouping debt with mortgage work?

Nowadays, reunifying mortgage debts is the most used method. Why is it the alternative that most people turn to? This is because mortgages, as a rule, offer more favorable conditions to the debtor than any other type of credit. It is a perfect option to qualify for better payment terms.

Another aspect that many banks take into account to grant debt reunifications are the monthly income of the client, as well as, whether or not it belongs to lists of delinquents such as ASENF or RAI. In the case of the reunification of debts with mortgages in a negotiating agency, this would not matter.


What expenses does canceling the credits entail?

What expenses does canceling the credits entail?

When making debt pooling , we must first cancel all outstanding loans we have. The cancellation of these credits entails a series of expenses that the applicant will have to face.

The grouping of debts also means formalizing a new mortgage contract. And as a new mortgage contract, the applicant for the reunification of loans must pay the commissions of opening, appraisal of the property, tax of Documented Legal Acts and the notary’s fees. However, these expenses will be quickly compensated by the large monthly savings the debtor will experience.


Should I do the debt reunification?

Should I do the debt reunification?

It all depends on the type of debt that is incurred, your employment status, financial status of the family nucleus, type of loans and the amount of debt.

As a general rule, the reunification of debts is ideal for those families who are going through an economic downturn and need to be more relieved with their monthly bills. One of the great advantages of reunifying mortgage debts is that, by unifying the monthly installments, these are grouped into one. In addition, this single monthly fee has a lower amount than the total debts separately.

However, not all are advantages, it also has its drawbacks. Although in this case there is only one drawback in this type of debt grouping , which is that by reducing the monthly payment, the debt time increases.

Are you considering grouping debt with mortgage ? If your answer is yes, contact us. From Pardillo Consultores , we will advise you in all your doubts about the debt grouping , always offering you the best conditions in your debt grouping . Find out without any commitment!

Unsecured debt consolidation loan


Secured personal loans tend to be the simplest loans to get due to the fact the lender has something to recover in the event of default. Creditors are still planning to be picky. They will, however, examine your credit and your finances. Even if they have resources or that they deposit, it does not imply you will be immediately given a mortgage by them.

Find debt consolidation loan

Find debt consolidation loan

You will find two main forms of loans that are debt consolidation that you will be looking at. The first form can be a debt consolidation mortgage that is guaranteed. A secured loan will require you to have collateral, such as a property or car. You will almost certainly get a low interest charge, rather than having to worry about being rejected as a result of poor credit. The guaranteed loan can vary from 5 years to 30 years.

It really refers to a justification for the “price tag”. Just because there is a house in 0000 does not suggest that that total is worth. This can be another place where it is useful to really have a real estate agent. Most agents are to validate sales rates against recent sales in your community specialist, and this is the easiest way to find out if the value is sensitive.

The choices at this point are: A) scribbling behind the phone index for different brokers related to this particular jewel and the desire as a heck one of them includes a lower offer you could manage; B) you go-in the bank and get a mortgage and after being wear and tear, outlining the specific situation for numerous employees, carefully finishing and publishing each of the necessary paperwork, and waiting for five – twelve times longer than it they had not declared they would have to, only to be refused. The downturnis on, because the experience left together with the banks are not just offering home loans on a plate.

Cheap loans

Cheap loans

Creditors generate their money through interestrates they charge and mortgage charges out. Individuals have the effect of seeing for these prices. Interest rates tend to be the most mentioned cost. Since the attention can really end up for the cost of the mortgage on a large portion of money that is.

Cheap loans are undoubtedly affordable and legit whenever they have low interest rates. You should never be worried about spending half as much of your salary whenever you get loans that are cheap. The low interest levels of these low-cost loans allow you to save yourself a little of your profits while paying for a property that you can own on a monthly or regular basis.
The important thing would be to look around and find the interest rate that is as cheap as possible. In the event that credit can be a problem right now it will be much less easy to locate a cheap loan, but don’t take the initial one-out of the catch.

When is it worth exchanging credit card points?

Making credit card purchases and guaranteeing benefits is one of the possibilities offered by most of the country’s flags. Loyalty programs allow consumers to convert their spending into beauty items, airline tickets, appliances and other items with accumulation. of points.

But, this does not always mean an advantage and it is important to know when credit card points are worth exchanging. Check out the strategies for not wasting money and making a good deal.

How it works?

How it works?

As we said, point programs are a way for operators to get customers to buy and use their cards. With each purchase you make, you earn points. Generally, the cards offer 1 point for every dollar spent, ie if the dollar is $ 4.00 (as has sometimes happened) you will accumulate 1 point for every $ 4.00 you spend. If you make a purchase of $ 100 you will earn 25 points. Because $ 1.00 = $ 4.00 = 1 point.

Therefore, the more expensive the dollar, the more you will have to spend to accumulate more points. Some cards work with the score tied directly to spending in reais, ie each $ 1.00 gives 1 point. You earn points and then redeem them for products and services offered by the card loyalty program.

Not all cards have the benefit of the points program. Check with your bank or card provider. In some cases, you will need to contact the call center and request that your card be included in the loyalty program.

You can check the amount of points on the card, bank or loyalty program website. Generally, the card statement provides information such as total points accumulated and points to be earned. Before you know which card types are best for you and which ones best fit your profile.

Understand Points for Credit Card Rewards

Understand Points for Credit Card Rewards

Most credit cards allow the accumulation of points for every dollar spent, whether in Brazil or abroad. Thus, if you are in the country, at approximately R $ 4,00 spent, you earn one point – which makes the process a little longer until the scenario of advantages.

This is one way that card banners have found to reward consumers for using the card by encouraging them with a type of loyalty plan. But this is not always an advantage, as operators also aim for profits.

Not all products offered on the market are likely to earn points, which does not make up for the amount of money spent on the value of the product. An item may end up being a brand that is not well known, of poor quality, or it may have its stipulated value much higher than it would actually cost if it were bought by you at a store.

Strategies for Using Credit Card Points

Strategies for Using Credit Card Points

One of the tips for finance specialists to have credit card exchange points as a benefit is to carefully evaluate the differences in the plans of each banner or bank, and to choose the one you think best. Often, the product that generates points is not part of your monthly purchase – which makes this process useless as the person will buy something they do not just need to exchange for points. A very disadvantageous path.

What is worth is having only one or two cards, and keeping a single benefit plan, with only one banner, concentrating all types of spending on it. This helps to track or average how many points are being accumulated for future exchange. Also get to know the point accelerators on the card.

In general, not always punctuating with anything is advantageous, such as paying water, electricity and telephone bills. After all, the financing service also generates interest and usually the credit cards are usually very high. The ideal is to spend according to what your income allows, and definitely get out of debt in an attempt to get benefits. 

Online Loan – How To Know Which Is Best For Me


Online Loan – How To Know Which One Is Best For Me?

Online Loan - How To Know Which One Is Best For Me?

Does the salary not reach the end of the month, or do you need to invest in your business and have no capital? Under these circumstances, loans can prove to be the best solution for your need. This way, you can honor commitments, keep accounts up to date, and improve – or start – your own venture. In this sense, a great facility can be obtained through online loan.

This is an option that is quick and free from the bureaucracy common to traditional financial institutions. Best of all, you can easily find alternatives whose parcels fit in your pocket. This is a direct result of the marriage between technology and financial operations. Not sure how to choose the best loan for your case? So stay tuned for our tips below!

Where can I get a loan on the internet?

Where can I get a loan on the internet?

As a rule, the customer may find two service options for applying for credit over the internet. Specialized websites are one of these alternatives, and are gaining increasing space in the national market. They may be linked to banks or be independent through Fintechs. Often, the interest rates shown are lower.

Traditional financial institutions, such as banks, also offer this type of service. In this option, you must be an account holder to apply for the benefit. The order must then be placed on the electronic channels available to the customer. In order for the release to occur quickly you must have the pre-approved credit. Otherwise, you will need to contact your manager.

Know Online Loan Types And Know Which One Is Best For You

Know Online Loan Types And Know Which One Is Best For You

When looking for financial services, banks and credit platforms, three types of lending will predominate. First, we have the personal loan. It is paid by bank slip, checkbook, check, or even checking account debit. It is best suited for emergencies where money needs to be acquired quickly.

Another form of loan available is payroll loans. The rates here tend to be much lower and are automatically debited from the applicant’s benefits and salaries. For this reason, they are more common for retirees, INSS pensioners and civil servants. In specialized sites the practice also extends to people with employment contract governed by CLT.

The last alternative that can be found is the so-called loan as collateral. In general, it arises as refinancing property or vehicle. Therefore, a good repayment is required to give as collateral for the loan. It is a modality aimed at those who need high values. This can be an alternative to reorganizing high debts or investing in a business of your own.

What is the process like?

What is the process like?

The process varies according to the type of credit requested. In most cases, the entire procedure happens online and the credit goes straight to your checking account. The first step to be performed is the loan simulation.

For pre-approved credit, the request can be made by accessing your personal checking account. For the payroll-deductible loan, the company must have an agreement with a financial institution, because the discounts are made directly on the payroll of the employee or pensioner.

And finally for the secured loan, you will need to send documents to the financial institution for credit analysis.

Try our private payroll loans

Try our private payroll loans

The three alternatives listed in this text cover, each in its own way, the main needs of those seeking credit. Are you looking for an online loan? So take a look at our platform. We offer security and ease by simplifying obtaining private payroll loans. Contact us to learn more about our services.

Single mortgage

A single mortgage gives many lonely people the opportunity to receive financial support to buy an apartment. Is it easy to get such a loan alone or is it better to look for a co-borrower?

Independence and own apartment are a dream of many people. Those who start a family with their other “half” probably have a little easier. They can support each other financially and together they are responsible for finding a good apartment for themselves.

Singles can make each decision themselves, without agreeing anything with another person. They also have to deal with financial issues on their own. Couples most often have two sources of income, the single lives on one, their own salary.

Banks like co-crediting

Banks like co-crediting

Of course, it happens that the total value of both income in marriage may be less than one single salary, however, when planning to take a mortgage loan alone for a new apartment, it is worth knowing the position of the banks towards such situations. We’ve already discussed some of the factors regarding singles in the article Mortgage loan – for whom?

The more people who are responsible for a loan, the lower the risk that there may be problems with its repayment. When two people take out a mortgage, the bank assumes that it will be repaid from two salaries.

If one person suddenly loses their job, there is still another income. This is a positive situation for both banks and borrowers who do not have to worry about debt. If they lose one source of income, they will probably find it harder, but they will not be left without money with a second source.

In the case of a single, the situation is more difficult


If he takes the loan, he will be fully responsible for it and if he loses his job, he may have serious problems paying back the installments. Of course, it is the borrower who has to worry about where he will get the money, but the bank would prefer to avoid debt from its customers. The borrower’s financial conditions are checked very strictly at the beginning. His financial standing and credit history must indicate good financial standing and the least credit risk.

What does it mean? It’s best if the borrower earns at least the national average. Of course this is not the rule. Some banks still support people with lower earnings, however, the amounts of such loans may not be high and will be enough for a studio. For singles, a higher down payment is often required than for marriages. The single, which has its own savings, shows the bank that despite lonely financial management, it is doing quite well and can still save.

Currently, it is no longer possible to finance the apartment 100%, so each borrower, both single and pair, must have its own part. The higher these savings, the better the information for the bank and the greater the chances of a mortgage – the comparison tool will help you pre-select banks to go to.

Possible to increase the chances of a single person getting a mortgage?

Possible to increase the chances of a single person getting a mortgage?

Loan surety is an interesting option that will not only allow you to receive a loan, but can also significantly increase its amount. The guarantor can be a trusted person, most often they turn out to be parents with a certain financial situation. They can also become co-borrowers and help their child pay off a mortgage.

In both situations, the bank will treat the borrower with a greater degree of confidence and will be more willing to set loan terms. If the single’s situation improves significantly or after some time he wants to share the loan with another person (e.g. he gets married and starts paying it back with his spouse), he can contact the bank with a request to change the terms.

It is true that the bank is reluctant to give up its co-borrower, but exchanging it for another, especially if the spouse has a high income, may be attractive to the bank. However, it is worth considering whether changing the conditions is necessary.

How a Payroll Loan Can Help Reduce Debt

Those in debt need to be very careful: prevent them from rising. And certainly one of the solutions to this (and the most appropriate one too) is to be able to remedy the most expensive debts you have.

Payroll loans

Payroll loans

But where to start? Is it really possible to go from one high debt to another debt without compromising one’s own pocket?

Today we will give you some tips on how to help your employees reduce their debt through payroll loans. Check-out!

1. How to use payroll loans to pay higher debts

1. How to use payroll loans to pay higher debts

Many people end up in high interest debt when trying to get rid of higher debt. And you don’t have to be a PhD on the subject to understand that the famous snowball effect creates even greater backlogs, leading many people into debt that often gets out of hand.

While this is a big reason to worry, you need to look at the problem very calmly, so you can make the best decision and solve issues.
Is it possible to pay very high debts without even having money available for it? Yes there is. And the best way is certainly through payroll loan.

Commonly, larger debts are allied with very high interest rates, which end up compromising the worker’s budget for a much longer time. And money will surely pay less and less.

Several finance experts recommend payroll loans, especially to pay off or reduce very high debts. When it is used correctly, it is the best way out for those who need money and do not want to fall into the clutches of overdraft.

Payroll loan is the type of loan that has the lowest interest rates in the market compared to different types of loan and credit lines. The interest rate difference can reach more than 300% per year between the types of credit and the payroll loan. Obviously, payroll loan is the best way out.

2. How to teach your employees how to prioritize debt reduction

2. How to teach your employees how to prioritize debt reduction

It’s very simple. Just start with a basic rule: The longer you keep your debt suspended or better, with no payment, the higher the amount to be paid in the future.
Presenting the alternatives that your employee has to have priority in paying these debts. Also make and demonstrate a comparison of the interest rates available on the market. The employee will see that this is the cheapest option to pay off or reduce their debts and make their money pay more monthly.

Try to make him / her understand that it is necessary to pay the highest pending issues such as: credit card, overdraft, installments of other loans, tuition, water bill, telephone, electricity and so on.

But be sure to show that it is not the highest value that will be the most important. One should check which interest rate is higher for the time of your debt. Also explain that through payroll-deductible loans, the employee will bear lower interest rates, fixed repayments, and much longer terms to repay or reduce their debt.

At our lending company it is very easy for you to apply for a payroll loan to pay off your debts, as the whole process is online and does not burden the HR area. Register your company. If you have any further questions, please contact our consultants and we will be happy to speak with you.

What is a Letter of Credit and how does it work

Always had questions about this modality? Read the following post that was created with the intention of answering any and all questions about this subject.


Which is?

credit loan

When buying a property, land or business unit, a consortium is a simple and effective way to realize a big dream. In this way, the consortium member pays monthly installments, according to previously established rules, attending meetings, with the possibility of being drawn to receive a letter of credit even before the deadline for the debt to be paid.

Thus, the letter of credit is a kind of payment promise that is issued by banks, most often as a way to assure sellers and, in some cases, buyers, that they will receive your payment as long as they fulfill what they initially agreed to do.

In Brazil, this modality is widely used in consortium contemplation, which works in two ways: by lot or bid. The assemblies hold raffles and those who are drawn receive the letter of credit to enjoy. Bids are useful for those who don’t want to depend on luck and the amount to be offered is determined by contract, and you can offer a portion of the letter of credit as a bid.


Understanding the terms and parties involved in the letter of credit

Understanding the terms and parties involved in the letter of credit

  • Applicant: is the buyer in a given transaction;
  • Beneficiary: is the seller or recipient of the resources;
  • Issuing bank: is that bank that promises to pay the letter;
  • Advisory bank: is the bank that helps the beneficiary to use the credit line;
  • Irrevocable: The letter of credit cannot be revoked or canceled without the prior consent of all parties involved.


Where does the money behind a letter of credit come from?

Where does the money behind a letter of credit come from?

It is important to note that any bank will only issue a letter of credit when it is sure that the buyer will pay. As such, some buyers have to deposit enough money to cover the letter of credit or, in some cases, use a special line of credit with the bank. Of course, this picture is that of a loan that will be generated for the buyer.


Advantages of Using Letter of Credit

Credit line

Guarantee of security, as the letter of credit can only be used by your applicant. Moreover, the non-payment of fees and taxes is quite interesting, as the money contained therein does not directly enter the account of the person requesting it, ensuring purchasing power. In addition, it facilitates bargaining power by virtue of its resemblance to cash or debit payments. This way, you can purchase discounts or other facilities before deciding to actually close a deal.


How can I use the letter of credit?

credit letter

  • Purchase of goods;
  • Redemption of investments;
  • Settlement of financing;
  • Compensation of values;