Golden Tips for Paying Off Your Debt with FGTS Credit

Indebtedness has grown significantly in recent years among Brazilians, especially due to the difficulties caused by the pandemic. Millions of citizens now with dirty name, without income, and with few possibilities to obtain privileged credit.

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But did you know you can Use your FGTS (Service Time Guarantee Fund) out of fist? By law, redemption of the fund balance is allowed in some situations, such as those we will now mention.

Pay off debt with FGTS

Unfortunately, the worker cannot withdraw the funds at will. This is only allowed when it meets certain conditions, such as choosing birthday loot. The method allows to redeem a part of the FGTS, each year, in the month of the citizen’s birthday.

The amount of the withdrawal depends on the amount available in the account of the interested party, which also receives an additional fixed share in some cases. It should be noted that when switching to the method, the worker loses the right to withdraw the full balance in the event of dismissal without just cause.

To join the birthday withdrawal FGTSOr access Caixa Online Banking, the FGTS app, the website fgts.caixa.gov.br or find a state bank branch.

Other FGTS withdrawal possibilities

If you prefer not to choose the annual withdrawal method, you can check out the possibilities for accessing other funds. Check out some of them:

• the retirement
• at least 70 years old;
• dismissal without just cause;
• Consensual dismissal of the parties (80% of the balance is released);
• Waiver due to company bankruptcy or force majeure;
• state of general calamities;
• No paid activity for 90 days or more (for self-employed workers);
• unemployment for three consecutive years;
• cases Serious illness or final stage;
• The death of the worker (the heirs can withdraw).