RIO DE JANEIRO, BRAZIL - Four out of 10 personal loans taken out by Brazilians are used to exchange an existing debt for another one with better payment conditions. A survey conducted by Guiabolso shows that 42% of customers intend to use the new credit, with better conditions, to pay off an old debt with high interest rates.
Of this total, 35% use the new loan to pay off their credit cards or settle the revolving installment plan, while 11% aim to clear their overdrafts.
The analyzed data also show that 17% of respondents took out at least one loan in . . .