We always hear the story that the SPC and Serasa are required to withdraw your name from the negative list, after 5 years.
Who hasn't heard this story? Have you ever wondered if it's actually true? Or just a rumor being passed around.
Before we talk directly about this subject, we want to make it clear that the right thing to do is to organize yourself financially and pay off your debts, not letting them accumulate, but the practice is different, isn't it?
The rule according to the parameters of the law is that debts cannot be in the system after this five-year period.
We have separated information about the Serasa and SPC that will help you understand better.
In general terms, we can say that traditional debts with banks, credit cards or loans that have not been paid, prescribe a five-year term. Furthermore, the maximum period during which the debtor's CPF and name remain on the negative list is five years.
This is in accordance with the Consumer Protection Code and the Civil Code.
So my debts ceased to exist after five years?
The debts remain, even though your name is “technically clean,” your financial life is compromised by certain institutions.
You need to get organized and pay as quickly as possible. What can happen is that interest on debts can reduce by 50% depending on the bank, but this isn't a rule!
Clean name, can't my debts be taken to court?
Yes, exactly. With your name cleared and the debt statute-barred, the debt can no longer be collected in court. The consumer's name can also no longer be submitted to credit protection agencies due to that debt.
Are Serasa and SPC obligated? What should I do? Wait?
Of course not, organize your finances and pay your debts, having a clean name by being a good payer is better than a bad name.
Good luck!