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Credit bureau sector establishes steps to normalize denial period

Transition begins on July 20th and will end on August 17th

The credit bureaus, on April 17, extended the deadline of denial of consumers e companies to 45 days in response to the economic consequences of the pandemic - a measure which expires on July 19 - announces the timetable for a return to normality, which will be completed on August 17. The transition will take place in five stages, in order to guarantee balance, the protection of creditors as well as debtors, whether they are consumers or companies, and to ensure fairness and equality between the parties. 

In order to enable a secure process, the sector has determined that, as of July 20, the 45-day period between the issuance of the notice and the use of the information will be reduced by five days each week. 

Thus, gradually, on August 17, the normal period for denial will return, according to the legislation of each state. 

“The sector took the initiative to extend the denial period and, since then, has carefully monitored the process and come to the conclusion that the current economic moment makes it possible to gradually return to the normality of the credit process,” says Elias Sfeir, president of the National Association of Credit Bureaus (ANBC).  

In ANBC's assessment, the decision to extend the period of denial was efficient and effective, positively impacting the challenging times, bringing stability to the credit process and encouraging negotiation between creditor and debtor, in accordance with the best practices adopted internationally. 

“We continue to monitor the market, dialoguing with various entities and parties related to the sector, in order to take the most appropriate measures to promote the sustainability of credit discipline and help the country's economic recovery process,” adds Sfeir.

ANBC Press Relations

Regina Pimenta: (11) 98136.6835 regina@pimenta.com

Ana Carolina Rodrigues: (11) 98674.0348 anacarolina@pimenta.com