About 12 million Brazilian families are currently in debt, according to a survey by the National Confederation of Commerce, Goods, Services and Tourism (CNC), released this Thursday (4). This is the highest level of indebtedness ever recorded by the confederation, which has analyzed data for 11 years.
The survey shows that, in October, 74.6% of family groups in the country had debts due in the coming months – whether by post-dated check, credit card, overdraft, store booklet and/or payroll-deductible loans. In comparison with September, household indebtedness increased by 0.6 percentage point.
Among the indebted families, 25.6% said they already have overdue accounts, while 10.1% say they will not be able to pay their future debts.
The credit card is the biggest villain among defaulters, according to the study. The means of payment represents almost 85% of all Brazilian debts. Second, there are the carnets. The average time to settle overdue debts is, on average, 60 days.
The record in the number of debts affects all Brazilian families, regardless of social status, points out the CNC survey. Having increased since April, the indebtedness rate of family groups with incomes of up to ten minimum wages jumped to 75.9% in October, compared to 75.3% in the previous month. In the same month of 2020, 68% of families in this income bracket were in debt.
For families with income above ten minimum wages, the proportion of indebtedness also reached the highest level, with an increase of 69.5% in October, against 59.4% in October 2020. For this group, indebtedness has been pointing to monthly record levels since February this year.
On the other hand, researchers point to a slowdown in the pace of indebtedness for the coming months.
According to the survey, the rise in interest rates should “cool down the debt dynamics”, since credits continue to increase in prices in Brazil over the months. Currently, the base interest rate is 7.75% per annum. Selic already registers five consecutive highs.
Reference: CNN Brasil
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