RIO DE JANEIRO, BRAZIL – Almost four in ten adult Brazilians were defaulters last month, which corresponds to 61.94 million people with pending debts in the credit bureaus, according to a survey conducted by the National Confederation of Store Managers (CNDL) and the Credit Protection Service (SPC Brazil). The number of defaulters included in the credit bureau base increased almost 6% last month compared to April 2021.
The total of defaulters today is not a record high. According to the SPC Brazil series, which began in January 2015, the largest contingent was 63.08 million, reached in November 2018.
“We are with a level of defaulters very close to that of 2018, which was a historical record, and the prospect is that this number will increase,” said Merula Borges, financial coordinator of the CNDL.
Despite the injection of extra resources into the economy, such as the anticipation of the payment of the 13th salary for retirees and pensioners of Social Security and the release of FGTS installments to workers, the specialist reminds that the domestic and international economic scenarios are troubled and that this can worsen the situation of default.
The Central Bank has already indicated that it will continue to raise the basic interest rates, currently at 12.75% a year, to contain the 12.13% inflation in the 12 months to April. High interest rates make it difficult to get off the default list and make the debt snowball if any delay occurs.
The survey shows that, of the defaulters, half are in debt between 91 days and a year. A year ago, the basic interest rate was at a historic low of 2%.
With information from O Estado de S. Paulo
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