Why Desenrola 3.0 is Targeting R$ 150B in Brazilian Debt Right Now

The Brazilian government has officially announced Desenrola 3.0, an ambitious new phase of its debt-relief initiative. This latest version shifts strategy dramatically, targeting up to R$ 150 billion in overdue debts held by millions of Brazilian families.

Unlike previous iterations that only facilitated negotiations, the federal government is stepping in to purchase these distressed portfolios directly.

## What Desenrola 3.0 Changes

Under the new proposal, the federal government will buy debt portfolios from financial and non-financial institutions at a minimum discount of 90%. The Union expects to spend a maximum of R$ 15 billion—allocated across the 2027 and 2028 budgets—to fund these acquisitions through competitive auctions.

The program focuses on original debts of up to R$ 10,000 that have been delinquent for between two and four and a half years. The initial auction phase, slated to begin in November, will prioritize revolving credit card debt, credit card installments, and unsecured personal loans. Later stages will expand to include retail and utility debts like water and electricity.

## Why It Matters for Millions

Brazil currently faces a staggering R$ 592 billion in defaulted debt, affecting roughly 83.9 million people. Non-bank debts, including basic utilities and retail, account for 55% of this total.

By purchasing these portfolios and passing the 90% discount directly to consumers, the government aims to clean up household finances and curb over-indebtedness. Officials estimate that up to 15 million people could ultimately benefit, with a projected R$ 75 billion effectively renegotiated once partial creditor and debtor participation is factored in.

## How the Auctions Will Work

The operational rollout will utilize competitive auctions segmented by the nature of the debt. Creditors are required to surrender the entirety of a debtor's eligible credits rather than a partial selection.

Institutions like Caixa Econômica Federal and Banco do Brasil are expected to help operationalize the process, utilizing specialized investment funds. Once the Union secures the discount, it transfers the savings entirely to the debtor. Citizens can then choose to pay off the remaining balance in a single discounted payment or split the remainder under conditions set by the National Monetary Council.