Default rates rise and reach 63.4 million Brazilians, says CNDL/SPC Brasil

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The number of Brazilians with outstanding bills reached 63.4 million last month, which is equivalent to 41% of the adult population and an increase of 4.3% compared to July 2017. A survey carried out by the National Confederation of Shopkeepers (CNDL), in partnership with the Credit Protection Service (SPC Brasil), shows that more than half of those in arrears (51%) are between 30 and 49 years old.

The assessment is that for many this age group represents the time when they are building their personal and professional lives, which leads to budget imbalances. “This implies taking on several financial commitments and, with the oman phone number list that the crisis still generates, the accounts do not always balance at the end of the month, leading to default,” comments the president of SPC Brasil, Roque Pellizzaro.

The balance takes into account everything from bank debts – such as overdue credit card bills and unpaid bank loans – to credit accounts opened in stores and debts with companies that provide telephone, cable TV and internet services.

In July, the volume of debts owed by individuals – on average, each defaulter has two outstanding accounts – rose 1.5% compared to the same month in 2017. The largest increase in defaults, 7.7%, occurred in basic service bills, such as water and electricity. Next, with an increase of 6.9%, were bank debts, including credit cards, overdrafts, loans, financing and insurance.

“High unemployment and the flat income of Brazilians continue to contribute to this increase in default rates. Although the country has overcome the recession, the economic recovery remains slower than expected, aggravated by the climate of uncertainty surrounding the upcoming elections,” says CNDL president José Cesar da Costa.