Brazil: 46% of debts unable to be paid off in short run

Almost half (46%) of debt delinquency cannot be paid off in the next three months, according to the Brazil’s Debtors Profile, released today (Aug. 24).

The survey conducted by Brazil’s SPC credit reporting agency and the National Retailers’ Confederation (CNDL) also showed that the loss of employment is the main reason for delaying payment, equivalent to 28.2% of costumers. Decrease in income is cited as a reason for 14.8% costumers, and the lack of financial control for 9.6%. In average, debts mount to $ 1,092.

According to the survey, 61.2% of respondents consider that their personal financial situation has worsened compared with last year.

Among those who requested bank or personal financial loans, 89.6% are in debt. Of those who purchased under installment plan, 83.6% are in debt, and of those who have got into credit card debts, 74.9%.

Translated by Amarílis Anchieta