Failure to comply with mortgage: Learn what PERSI can do for you.
Have you defaulted on your home loan? PERSI can help. Learn about the plan that banks must follow in this case, and find out how to save on your monthly installment.
Problems with credits? The Minute Savings has the ideal service: Free credit intermediation, to help you lower monthly installments! Contact the agents, or first read what PERSI is and what it can do for you.
PERSI can resolve your housing credit default for you.
PERSI is a procedure implemented by banks to resolve the default of monthly installments of a loan. It is called an extrajudicial procedure to regularize default situations and, in practice, aims to seek solutions to help a borrower who has failed to make loan payments.
According to a publication on Deco Proteste's social media, analyzed by Notícias ao Minuto, PERSI "allows the consumer (bank customer) and the credit institution to negotiate solutions to resolve the default situation, avoiding resorting to courts".
Therefore, it is up to the bank to "evaluate the client's situation and propose him, whenever feasible, appropriate solutions to the current financial capacity, objectives, and needs," as stated in the post.
Bank of Portugal explains the procedure
PERSI is a plan created by the Bank of Portugal (BdP), which requires banks to find options that help recover a non-compliant customer.
According to the BdP, this plan is based on the benefit of rights and guarantees for customers "to facilitate reaching an agreement with credit institutions in resolving default situations, avoiding resorting to the courts".
The procedure covers "the generality of credit contracts concluded with consumers," guaranteed by the BdP.
Problems with credits? Turn to an intermediary.
Still not reached that point, but afraid it may come to enter? By using a credit intermediary to help you, you can significantly reduce the payments you make.
For example, if you have a mortgage, the credit intermediary can guide you to seek new simulations with more suitable conditions for you at other banks, and transfer your credit to another banking entity.
Savings intermediaries Minute credit accompany you throughout the process between you and the banks, to get the best proposal with the best conditions and save on your loans. Contact us and access a free, fast, and personalized mediation service!