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Electronic means: the search for efficiency in notifying borrowers of debts

Notifying the borrower of the existence of debt in your name must take place as efficiently as possible. This is a very important stage in the relationship between creditor and debtor. We are talking about two different but related rights: that of the creditor of receiving the agreed amount and that of the borrower of being aware of the amount that is owed or outstanding.

According to the law, before being registered with credit protection services, the borrower must be notified by the creditor in advance. To defend this transparency in the relationship between creditor and borrower credit should be everyone's concern. Transparency is also part of what we call good faith, i.e. the need to act or live ethically and honestly.

But how should the borrower be notified? What is the best way? Technology provides us with electronic media such as email, SMS and WhatsApp. Every day, these media become more relevant in the social communication process. We can't escape this dynamic when it comes to communicating with borrowers.

There is almost no fault of any kind in the electronic notification, which means that the e-mail will actually arrive - I would venture to say in all cases - in the debtor's inbox. If technical failure is ruled out, imagine human failure. Many of these mailings, especially SMS, are sent automatically through efficient electronic systems.

Therefore, when comparing electronic notification with notification by letter (simple or registered), it is clear that the former is more robust, even though the Post Office does a good job most of the time. There is also the question of cost - how much the creditor pays to notify the debtor. The cheaper and more efficient the communication, the greater the benefit for everyone.

It's worth remembering that the state of São Paulo recently passed legislation allowing debts to be collected by electronic means. This is a huge step forward which, among other things, helps to combat bureaucracy and, as we have seen, reduces costs for both creditor and debtor.

The search for efficiency and effectiveness in the credit system benefits the economy and society as a whole because it strengthens the relationship between lender and borrower.