Banks have already renegotiated R$8.1 billion for Desenrola through August 11th and 5 million names have come out of the negatives.

Banks renegotiated R$8.1 billion through Desenrola through Aug. 11, according to the Brazilian Banking Federation (FIBRABAN). In all, the federal government’s debt renegotiation program has helped negotiate 1.296 million contracts for 985,000 bank customers.

These numbers refer to Track 2, which is part of the current phase of the programme. In it, banks can renegotiate the debts of customers who have a monthly income between a minimum wage and R$20,000, and who are not included in the federal government’s Cadastro Único (Cad Único).

In this way, banks pulled nearly 5 million negative records from customers who had debts of up to R$100. The write-off of records ended on July 27, which does not mean that the debt has been forgiven.

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Revealing the numbers “speak for themselves”

“Desenrola’s numbers speak for themselves and feel great relief for everyone, banks, government and society,” Febraban President Isaac Sydney said in a note. “The high commitment and interest in the program in Track Two is a sample of what’s to come in September, along with Track One.”

It is worth noting that Level 1 corresponds to low-income clients, whose debts will be guaranteed by the Treasury Fund.

It should be accompanied by the entry of non-bank debts into the program, and the emergence of the first online platform, organized by B3, where banks will be able to “buy” debts at auctions, offering discounts.

The country’s largest banks have joined Desenrola, each with a different strategy. Some, like Banco do Brasil, have expanded program terms for clients who don’t meet their criteria.