In the search for a payroll loan, beneficiaries of Auxílio Brasil take out personal credit

The announcement of the payroll loan linked to Auxílio Brasil generated a search for beneficiaries of the social program to financial institutions. Interested in the loan announced by the federal government – ​​which has not yet come into effect –, many beneficiaries sign personal loan contracts believing that it is the payroll loan disclosed by the federal government.

The report of Sheet found that the confusion occurs due to the requirement for specific documentation and the choice of the loan payment date, which must coincide with the day of receipt of the benefit.

For specialists, the offer of credit to low-income families and in situations of social vulnerability can deepen even more the indebtedness of families.

The government predicts that the consignment of Auxílio Brasil will begin in mid-September. According to the Ministry of Citizenship, it is necessary to wait for the publication of the body’s regulations before signing a contract with the entities that will be able to offer the loan with a direct discount on the benefit.

A resident of Rio de Janeiro, an Auxílio Brasil beneficiary who asked not to be identified said she got the personal loan four days after contacting a finance company. She learned about the sport through posts on social media.

Among the documents required for contracting the loan were the Auxílio Brasil account statement, the CadÚnico document and a bank statement from the Caixa Tem account containing the date of payment of the last benefit.

“They will discount the installments directly from my aid starting next month,” he said.

Lawyer Alexandre Ricco, from Ferreira e Ricco Advogados, explains that the direct discount on the payroll is a characteristic of the payroll loan, not the personal one – which depends on the consumer’s good faith to be paid.

If the loan installment is not paid on the day scheduled for payment, the institution charges interest and a fine.

The loan is one of the main topics discussed in groups on social networks that bring together program beneficiaries, where financial agents also disclose credit offers. There are about 90 groups on Facebook alone.

Despite warning attempts, many are attracted to easy credit. “It’s not a payroll loan, it’s personal,” says one participant. Another retort: ​​”It doesn’t matter, you’ll pay with your help.”

The coordinator of the financial services program at Idec (Consumer Defense Institute), Ione Amorim, says that the practice can be seen as abusive. She claims that the offer is not even considered illegal – as it follows the interest rate practiced in the market.

“In addition to not helping families, who for some reason are in need of credit, it contributes to the worsening of the debt situation.”

Specialist in banking and consumer law, the lawyer says it is not irregular for the company to require proof of income from the client for the granting of credit.

“Usually, finance companies will want to understand what the customer’s ability to pay is. [consumidor] ties this ability to pay to the receipt of a benefit, the financial institution will ask for this information.”

But for the coordinator of Idec, the granting of credit to beneficiaries of Auxílio Brasil, by financial companies, should be supervised by the BC (Central Bank).

“We have observed a weakness in the supervision of the Central Bank in relation to the credit modalities that have been emerging”, he says.

Wanted, the BC informed through its press office that it would not manifest itself.

Super-indebtedness law protects consumers

Since it came into force in 2021, the Over-indebtedness Law has increased the responsibility of companies to protect consumers from incurring an excessive number of debts, says Guilherme Farid, director of Procon-SP.

Among the objectives of the law is to avoid harassment or pressure by financial institutions on the most vulnerable consumers, in addition to bringing the possibility of conciliation between consumer and creditor.

Farid says that the agency was not called to investigate irregularities in relation to the provision of credit to beneficiaries of Auxílio Brasil, but that it inspects and monitors how the service is offered. However, he urges caution.

“Is the provision of credit linked to the Aid not compromising an income that the consumer has for subsistence? Tomorrow, if the consumer does not even have access to this income, what other help is there after he has compromised his benefit?”

Beneficiaries turn to the loan for essential items

Unemployed and with a 3-year-old son, single mother Jasselmara Seermann, 23, was unable to afford the basic expenses to survive on just the R$600 installment of Auxílio Brasil.

With difficulties to buy food and running the risk of having the electricity cut off due to lack of payment, she waited anxiously for the release of the Auxílio Brasil consignment. Due to the urgency, she resorted to a personal loan offered by a finance company. “I didn’t even have 1 liter of milk at home to give my son. I needed the money for yesterday.”

Jasselmara learned about the line of credit available to Auxílio Brasil recipients on social media as well. It was not necessary to have a clean name, but it was necessary to prove that they were part of the program that replaced Bolsa Família.

Three days after contacting the financial agent and sending the documentation through a messaging application, the money fell into the account.

She borrowed the amount of R$339.11 and will have to pay the amount of R$600 to the financial institution, divided into six installments of R$100 each. Billing starts in September. “It’s going to be heavy, but when we need it, we don’t think about it.”