New system that can 'choke' debtors' survival by blocking accounts in 2 hours, says expert
In testing phase for 18 months, the new system applies to five banks that signed an agreement with the CNJ
from R7
The new model of Sisbajud (Judiciary Asset Search System), which will allow automatic and continuous account blockages for up to one year after a court decision, has sparked mixed opinions ranging from advancements in debt collection effectiveness to the risks of overreach against debtors.
The system update also cuts down banks' response time to just two hours, speeding up the enforcement of court orders, with orders sent by the courts twice a day: at 1 PM and 8 PM.
The CNJ (National Justice Council) has launched a pilot project to overhaul the Judiciary Asset Search System, a mechanism used by the courts to locate and block debtors' funds in legal proceedings.
In testing for 18 months, the new system applies to five banks that signed an agreement with the CNJ: Caixa Econômica Federal, Banco do Brasil, Itaú Unibanco, Nubank, and XP Investimentos. The CNJ plans to gradually roll out this measure to the entire financial system concerning debtors' resources before the blockage.
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