Banks Buying Debts

 

What are the banks that buy debts? Repurchase (debt repurchase) is done by a large number of banks, each with its specifications, standards and procedures, but in general, the transaction runs smoothly. The petitioner always leaves with a sum of money in his pocket.

As said, repurchase is made by many banks that buy debts, even without disclosing this right to anyone who has acquired a personal or consigned loan. Who wants to exchange the loan to another cheaper bank, does not find information in the sites of any creditor institution in Brazil. The exchange of institutions also serves to obtain a reduction in the installments of your payroll.

It is worth remembering that banks and financiers have no interest in disclosing this type of transaction, even because, it only benefits the borrower who wants to sell their loans. It is very clear, no bank has an interest in losing its borrower. Therefore, there may be obstacles for the interested party who wishes to purchase the debt.

When “buying your debt” the new bank will be performing “Loan Portability” or “Loan Portability”, in this specific case we are talking about the payroll. The transaction occurs when a bank pays the debit balance by making the purchase of the debts of the loans of another institution that had more expensive rates, that is, advantage for the client.

How Debt Buying Works

 

The operation of the mechanism is very simple, the borrower of institution X seeks the institution Y and requests payment of his debit balance through a discharge ticket (he buys his debt from bank X). The result of this operation is the contracting of a new paycheck loan negotiated at lower rates, with a reduction in the value of the installments and there may still be “change” for the applicant.

At the moment, the operations that are most evident are the negotiations that buy debts of consigned loans between banks, usually the Federal Government Servants (SIAPE), of the Armed Forces, besides the Retirees and Pensioners of these organs are the ones that most request the exchange.

The payroll loan has no doubt the lowest interest rates in the loan modality. This is because institutions are able to discount the installments directly on the contractor’s payroll.

 

Calculation of debt purchase

 

Calculation of debt purchase

 

How is the calculation of the purchase of consigned debt? Let’s suppose that a borrower still has 10 installments of $ 1,000 to be paid, considering that $ 800 is debt, it is possible to reduce the $ 200 of interest and fees. Upon completion of the operation with a portion of R $ 900, the contractor saves R $ 1,000.

Purchase of payroll deductions

Purchase of debt and financing debts

Renegotiation, purchase of loans and purchase of debt

To complete the procedure, you must ask your current bank for the “Debt Balance Letter”, “Bank Discharge Balance” or “Debt Position”.