There are millions of Brazilians who incurred debts in the past, for various reasons, and today find themselves negative at SPC and Serasa. This problem can really keep you up at night, especially when you don't have the money to pay. Therefore, many decide to wait for a debt to “lapse” so that the name is cleared again. But does that stop the charge?
look here how long does it take for a debt to expire and how it works.
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Understand what “expired” debts are
The so-called “expired” debts are those whose validity period has already been exceeded and, therefore, no longer implies restriction in credit lines. According to the law, it takes five years for a debt not paid by the defaulter to expire. After that, no citizen can have a negative name due to the lack of this payment.
However, it is important to note that the individual cannot have incurred any other debt during this period. However, in fact, after that time, in addition to not having credit protection, it is also not possible to carry out the collection in a judicial manner.
Debt remains open after five years
What many do not understand is that, in any case, the debt will remain open after the five years in which the term expires, although there is no longer any restriction. Generally, the company that expects the payment continues to have the data of that citizen and, therefore, continues in an attempt to obtain its entitlement amount. Thus, the calls and collections will not end after the debt expires.
Furthermore, in the case of bank debts, your name will remain registered with the Central Bank's Credit Information Service. As a result, you may find it difficult to get credit, such as loans and financing, at that same bank. Still, you can rest assured that, in reference to this debt, no collection within the judicial scope can happen. So, just be very careful so that this situation does not happen again and imply new restrictions.
