Recently this Positive Register has given something to talk about among Brazilians. All because of a new law that came into force recently. It determined the automatic incorporation of all consumers in the database of the Positive Registry.
At first, many people were surprised by the decision and believed to be harmed with it. However, while it is possible to remove the name from the list, the reality is that this is a tool that brings benefits to the consumer.
To clear all doubts for good, we have done this article to explain how Positive Registration can be beneficial. Check out how this platform influences when applying for a loan and how to take advantage of it.
What, after all, is the Positive Register?
To understand your relationship with loans you must first understand what it is. Positive Registration is a record that signals and somehow rewards good account payers.
It basically functions as a record that joins data from the consumer’s latest payments. It is a file that analyzes if the individual has outstanding debts, pays the bills on time, how many installments a purchase, etc. What was purchased, on the other hand, is not recorded.
Thus, all good payer statistics are gathered in one place, on platforms like PCP and terasa. The goal is precisely to signal when the person fulfills their purchases and pays as it should.
Positive Registration has existed for this purpose since 2013 , but before that one needed to sign up on their own. Today this procedure is automatic, but the consumer is free to remove his name if he wishes.
How does it influence the process of making a loan?
Credit Protection System’s idea for creating the Positive Register is to help precisely those who need a loan and can afford it. After all, it demonstrates to the credit companies that the person is reliable and will repay the loan installments.
Good payers have a high score in the Positive Register , which gives them more power when applying for a loan. Since the person poses less risk to financial institutions, he can negotiate the number of installments and even lower interest rates.
What if my Positive Registration score is not high?
Positive Registration was created to benefit those with their current accounts. This way, people with debts and arrears end up not getting good grades. Therefore, they cannot enjoy the benefits at that time.
However, despite serving as a representation of one’s recent financial life, the Positive Register is not permanently fixed. So, even if you have a bad payment period, once you are back on your accounts, you can raise your grade.
What is the difference from Positive to Negative Registration?
Negative Registration alerts businesses of people who have not honored payments by automatically blacklisting them with a dirty name. This only hurts people without financial conditions at the moment, but does not benefit those with a good track record as a consumer.
Thus, Positive Registration serves to reward people who fulfill their purchase promises. Not to mention that it also caters for people with a dirty name to clean themselves by paying bills on time and improving their Credit Protection System score. Thus, the Positive and Negative Registration complement each other to draw the profile of the consumer.
Applying for a loan does not have to be so complicated. On our platform, you can do the whole process online. Want to know more? Contact us for questions and more information.