Founded in 1964, Specas is one of the most renowned financial agencies in Brazil, authorized by the Flemor Bank of Brazil. Specas offers a loan to a very short list of people, but there is the Specas credit for negatives, which usually gets a lot of attention.
It turns out that Specas only offers its services to civil servants, pensioners or retirees. But it is well known for being a differentiated lending company as it provides loans to negatives, which attracts many people with restricted credit. However, you should not confuse the loan that is offered by the agency as a payroll loan.
Many people end up believing that Specas’s loan is a payroll loan, since the debt of this loan made with the agency is usually deducted directly from the salary, retirement or pension payroll, whatever the case. However, payroll-deductible loans generally have extremely low and cheap interest rates, and on much better terms than those offered by Specas.
How Specas Negative Credit Works
Truth be told, Specas offers credit to negatives very quickly. If you need money quickly, without paperwork and easily, this agency may be the option. Credit release usually takes place within one business day of your order being approved, making Specas an excellent choice for those in need of money.
However, only those who are civil servants or earn a fixed income from any state benefit can apply for credit from them. And the loan amount will depend greatly on the analysis of your profile and also on the documents you submit when applying for the loan.
It will all depend on your ability, well, your monthly income, as this will determine the size of your loan, making it larger or smaller than the amount you requested.
If you want to know the credit amount for your situation, you might want to do a simulation at one of Specas’s service points first, or you may have a very unpleasant surprise when you see the deposit in your account.
The credit for negatives and the true story
Specas is recognized for granting credit to those with a dirty name. But she never gives loans to those who are self-employed or unemployed.
While it is possible to apply for a loan if it is negative, your application will have to go through an intense credit review process, and a full document check will be done. This means the credit may not be approved! During credit analysis your income will be verified as well as your ability to repay.
And if you get the credit, you’ll have to deal with Specas’s terrible interest rates, which are the highest in the entire Brazilian market. Unfortunately, Specas offers extremely high interest rates. This only goes to show how expensive it can become to borrow from this financial agency.
High fees may end up worsening your situation rather than helping you. Interest on interest increases your debt every month, which is becoming a giant snowball, not to mention that for those who want credit for negative the story is even worse.
Compare rates well with those of other agencies before you decide to apply for a negative credit credit. Only do so if you have no other option, which we may wish, will never happen. You can always count on Astro Finance to help you out of your grasp and find the best loan option!