Brazilian workers can consolidate debts into one payroll loan

infomoney.com.br (Portuguese)

Brazilian workers with formal employment contracts (CLT) can now consolidate up to nine debts into a single payroll loan. This new rule aims to simplify debt management. The Ministry of Labor and Employment (MTE) implemented the change, allowing consolidation of various loan types, including personal loans, into a single payroll-deducted loan. The total monthly payments cannot exceed 35% of the worker's net salary. This initiative, part of a broader effort to increase credit access, also includes loan portability and debt renegotiation options. The government hopes to stimulate competition among banks and offer better loan terms to the 46 million Brazilians with formal employment.


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Brazilian workers can consolidate debts into one payroll loan | News Minimalist