Know what to do to rehabilitate your personal finances

In these pandemic times in which we live, several families were affected by the loss of income, unemployment and job losses, which caused them to stop being able to fulfill their installment obligations, and entering into default with financial institutions.

GRANDMA'S WEEK: WE INFORM AND WARN YOU TO SUPPORT YOU!

2- I am having difficulty fulfilling my obligations due to the 19 pandemic pandemic. Although I am retired and have been working in a laundry, but since March there is no work. The fixed expenses were controlled, but without that extra amount I don't have enough for medication, food and household expenses, with water and electricity, etc ... I tried to negotiate the contract by extending the term and reducing the amount of the benefit, but I couldn't.

In these pandemic times in which we live, several families were affected by the loss of income, unemployment and job losses, which caused them to stop being able to fulfill their installment obligations, and entering into default with financial institutions.

Know what to do to rehabilitate your personal finances:

  1. In the initial months of the pandemic, the Government established moratoriums to help consumers support monthly payments. These moratoriums ended on June 30, but those who signed up to this date will benefit from a reduction in tuition (paying interest only) until March 31, 2021.
  2. If you were unable to adhere to the moratorium, we first advise you to contact the bank and expose your problem. For credit institutions, it is important that you inform that you are unable to meet your payments and that you are willing to settle a payment agreement.
  3. When making this initial contact with the banking institutions, you must be accompanied by the documentation that duly proves the reason that caused the difficulty in complying with the payment, because the more you can attest to your current condition the better and the quicker you will have an answer on the part of banks.
  4. The moment the banks analyze your situation and make you a proposal, you should analyze it correctly and check if it is actually advantageous or not. Many are the cases in which financial institutions 'take advantage' to increase interest or include fees that are not due.
  5. It may be integrated into the PARI (Action Plan for the Risk of Default) or PERSI (Extrajudicial Plan for the Resolution of Situations of Default). These two plans are legislated by Decree-Law nº 227/2012, and have at their core the objective of helping consumers in payment difficulties, to restructure their credits, always with the endorsement and evaluation by the banks, avoiding as much as possible lawsuits. in Court, to recover arrears.

Inquire with us

Count on the support of DECO MADEIRA through the telephone number 968 800 489/291 146 520, from the electronic address deco.madeira@deco.pt. You can also make an appointment via skype. Follow us on Facebook, Twitter, Instagram, Linkedin and Youtube!

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