O REFIN It is a service available through Serasa, a database of individuals and legal entities, to inform you of debts owed to financial institutions.
The credit protection service is a common procedure in Brazil, and it is through this that financial services are released to customers.
What is REFIN?
This is a service that companies can consult to check for possible financial issues.
This system is similar to Pefin and allows you to check your debts with other financial institutions. Therefore, the process of including and checking debts is carried out online.
How does it work?
All companies operating in the credit market can carry out a consultation to verify the consumer's history.
This way, it is possible to understand the risk management that each consumer can bring to your company, with the aim of protecting your assets.
How to add information?
Those who query the database can also add the name of a customer. For example, customers with credit card debts can have their name included.
However, it is necessary to notify the defaulting customer by means of a letter of notification. Therefore, customers have a period of 5 to 10 business days to negotiate a settlement of the debt.
If the situation is not regularized within the stipulated period, then the SPC must include the customer's name in the database.
This process leaves the customer's name tarnished until he finally pays the debt.
To keep your financial life up to date and thus avoid this problem, you need to learn about financial education. Or, use financial apps directly on your cell phone.
What are its advantages?
However, the REFIN It has some advantages for consumers and companies, see what these advantages are:
Cost reduction
Including a debt in the registry office can be very costly for companies, and this can also affect the consumer. In this Serasa system, the process is less bureaucratic.
Practicality
In a single tool you can find important information for credit approval.
Not to mention that everything happens online, with just a few clicks.
Credit recovery
Most unpaid debts can be recovered with the help of this system, and the cost/benefit is more advantageous than hiring a collection company, for example.
Security
O REFIN It complies with the LGPD and can also be used as a way to prove debt, when there is a legal process, for example.
Is there a difference between REFIN and financing?
O REFIN It is a credit protection service, also popularly known as Serasa, its mission is to assist companies so that they can contact customers with outstanding debts.
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On the other hand, refinancing makes it possible to renegotiate debts directly with creditors, without the need for intermediaries. Including your name in the system can reduce your score, which also reduces the possibility of acquiring new credit.
Conclusion
Therefore, the REFIN is another resource available from Serasa to make life easier for companies.
With this system, companies have greater control over customers with outstanding debts. Don't forget to send the communication letter to your customers.