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01.06.2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
01.06.2016
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Credit card was appointed as main type of debt of São Paulo families, cited by 71.8% of respondents
The number of indebted households rose again in December after three consecutive months of decline, according to a survey of the Federation of Trade in Goods, Services and State of São Paulo Tourism (Fecomercio). Exactly half of the families in the capital city had debts in the last month of the year, representing an increase of 0.7 percentage point compared to November.
Compared to December 2014, when the indebted households totaled 43.1%, this proportion increased by 6.9 percentage points. In absolute figures, the total number of families with debt rose from 1.546 million to 1.793 million, ie an increase of 247,000 households in a year.
With 71.8%, the credit card was appointed as main type of debt of families paulistanasGetty Images
According to the economic advice of the entity, "receiving the Christmas bonus was important to many consumers put their bills on time, it would prevent the economic uncertainties and longer to prepare for the accumulation of financial obligations and taxes earlier this year" . According to Fecomécio, resort to savings has also been a strategy to pay off debts.
According to the survey, it helps to understand the stability in 53.2% of the proportion of indebted low-income households in November and December [2015]. "However, given the high inflation and rising unemployment the low-income families are hit hardest to keep the pattern of consumption, hiring often unforeseen loans to make ends meet."
The organization also said that because of this difficulty, the proportion of debt with up to ten minimum wages income rose 7.8 percentage points compared to December last year, when it was 45.4%.
The growth of the total proportion of indebted households between November and December was due to the seasonal increase in indebtedness among households with an income above ten minimum salaries. The portion of debt with this salary range went from 37.9% in November to 40.7% in December. In December 2014, the figure was 36.4%.
The study also showed that 39.1% of the debt have debts with a maturity of one year; 24.7% up to three months; 17.2% between three and six months; and 16.5% between six months and one year.
The credit card was appointed as main type of debt of São Paulo families, cited by 71.8% of indebted households, followed by booklets (17.9%), car finance (17.8%), home financing (12 7%), personal loans (12.5%) and overdrafts (8.7%).
For Fecomercio, families with lower incomes, with restricted access to credit, have resorted to the revolving credit card, which can compromise the finances due to high interest rates of this type.
Default
It said the number of delinquent families was growing throughout the year but fell back at the end of 2015 because of the Christmas bonus and conservatism of banks and families. In December 2015, 17.2% of São Paulo families reported being with overdue accounts, numbers close to 17.1% relative to November and less than 18% from October, when the proportion of delinquent reached the highest value of the year.
In December 2014, the value was 10.9%, which, for Fecomercio, shows the "difficulty that many families found throughout 2015 to keep the bills on time due to the deteriorating economic environment."
Data from Fecomercio indicate that, in addition, the proportion of families who could not pay the bills reached 7.3% in December, the highest since September 2009.
Source: Economic Brazil
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This article was translated by an automatic translation system, and was therefore not reviewed by people.