Wordsley, Stourbridge, England: 9 degrees, sunny, overcast, and with showers.
It is Sunday and the weather is very shitty, the rain stops and starts all the time. I wanted to go out for a long walk, but I haven’t been able to for quite some time.
My life has been on a roll for the last six months or so, and I can only be grateful!!!
There is one looming problem that has been haunting me for the last five years: several small debts that have accumulated from when I had the school. Having a small business is tough, but in Brazil, it’s even more difficult to keep it afloat, especially with the government constantly trying to screw you over. Additionally, having to pay three rents for many years was a burden that nearly broke me on a few occasions.
What truly closed the school was COVID-19 and the pandemic, but not because I had to; it was because I wanted to, and it was the right moment. I could have waited for the pandemic to pass and for the school to reopen. It would have been operating normally until today, but it was the time to stop, and I am grateful for that.
These debts that I have accumulated over the years have also been accumulating interest on them and are being rolled over.
There is a government agency in Brazil called Serasa, which functions as a watchdog linked to your CPF. All residents and citizens in Brazil have to have a CPF to live, work, and make purchases. It enables you to open a bank account, and without it, your financial activities in Brazil are severely limited.
All financial transactions are linked and referenced to your CPF, so when you create one, it is registered and connected to that. Serasa is the government agency responsible for managing this, where all debts linked to your CPF are recorded. Besides serving as a kind of watchdog, it is also where you can negotiate your debts with the creditor, either in person at one of their offices or online.
According to reports, approximately 70% of the Brazilian population is heavily in debt at present, and likely around 50% don’t have the means to pay their debts.
My debts were not substantial, just enough to be awkward and big enough not to be paid until now due to numerous other financial responsibilities. This morning, I went online and checked my CPF. Sure enough, there were my 6 or 7 debts totalling about 5000 Reais. This is the discounted value, not the actual value, with tonnes of interest added on top.
Although you need to pay off your debts and restore your credit, it’s also in the creditors’ interest to recover part of the original amount. However, recovering from a debt burdened with excessive accrued interest is nearly impossible, especially considering the high interest rates in Brazil that make repayment extremely challenging.
I don’t want to pay, but I would be stupid not to, and I have to pay. Now, with enough money in my account from my Uncle Mick’s inheritance, I can afford to do it. He would have wanted me to take the opportunity and do it as it closes, putting to an end a bad phase of my life and opening new doors that were probably closed because of the weight around my neck, which feels like an iron ball and chain.
Uncle Mick, wherever you are, I thank you, and I’m deeply grateful for the money that will ultimately improve my life and the lives of my family.
Thank you again!
In bed by 11 p.m.
Thank you.
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Richard
Photos by Richard George Photography
