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Bank customers who have joined the public bank credit moratorium, but who do not want it to be automatically extended until March 31, 2021, have until this Sunday to report it to their bank.
To do this, they can use the different communication channels made available by banking entities, as reported by the Bank of Portugal to Lusa.
The bank moratoriums, which suspend the payment of the bank loan payments (principal and / or interest), were extended by the Government until March 31, 2021.
Clients who have adhered to the moratorium are automatically covered, unless they inform the bank that they do not want to, and do so before September 20.
Since April, thousands of clients have not paid loans to banks, making use of the Government decree-law that allows loan delinquency, created as an aid to families and companies penalized by the economic crisis triggered by the COVID pandemic -19.
In June, the Government decided to extend the deadline for the September moratoriums of this year until March 31, 2021 (customers who wish to do so can still request access to the moratoriums until the end of September) and also extended the conditions under the which customers can access, having relaxed the conditions related to the contributory and tax status.
The public regime also began to cover all mortgage loans (such as housing loans), consumer credit for educational purposes, in addition to allowing people with a drop in family income of at least 20% and citizens to agree not to have residence in Portugal (including emigrants), situations that were not previously covered.
In addition to credit default according to government law, there is also private credit default of the Portuguese Banking Association (APB), the Association of Specialized Credit Institutions (ASFAC) and the Portuguese Association of Leasing, Factoring and Renting (ALF). , which are applied to credits that do not benefit from the public moratorium (in the case of personal credit, with the exception of contracts for educational purposes -already covered by the public moratorium-, car loans and credit cards).
According to the latest data published by the Bank of Portugal, until June 30, requests for credit default exceeded 841,000 and more than 714,000 contracts were already covered by deferral measures. Of the loans in arrears, 44% were home loans and other home loans.
At the beginning of September, the Minister of Finance, João Leão, considered the extension of the credit default to companies and families (beyond March 31, 2021) a “very relevant” issue, which the Government is studying, and said We have news until the presentation of the State Budgets.
The PSD has already indicated that it intends to see the term extended until September 2021 (although only for pending capital and not interest and commissions) for families and individuals and for the economic sectors most affected by the economic crisis.
