Debt in Brazil is the lowest in five years
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President of Fecomércio-SP says consumers are more cautious as they take on new debt
SÃO PAULO - The total debt of households in São Paulo has fallen from 45% in January to 38% in February, the lowest level recorded in the last five years, when the Survey of Consumer Debt and Default (Peic) began to be held by the Federation of Trade of São Paulo State (Fecomércio-SP). According to the chairman of Fecomércio-SP, Abram Szajman, consumers are more cautious as they take on new debt and even remove the existing search.
When assessing Szajman, this behavior is influenced by uncertainty regarding the magnitude of the impacts of international financial crisis on the Brazilian economy. Of total household debt, 12% are with accounts in arrears. In comparison with February 2008, there was a decline of ten percentage points.
For credit card, 46% with the bill are pending, while the meat in late commit 28%. The other rates are related to personal credit (8%), special check (4%), pre-dated check (2%), and set credit (2%).
Income
According to research, among consumers who receive more than ten minimum wages, the percentage of debt is larger: it 48%. Income in the range of four to ten salaries, 32% are indebted as to the families who receive up to three minimum, 28% have some type of debt.
For 32% of respondents Paulistanos, expenditure that most affect the family budget and resulted in the current debt was spent on food. Already 22% indicated the purchase of appliances and electronics, and other 22%, spending on clothing.
This month, 35% of those surveyed have tried to renegotiate the debt situation with creditors. The majority (55%) reports have found high interest rate, while 27% failed to financial resources. Another 13% thought the term of payment offered in short and 3% of cases the creditor did not accept renegotiation. In the survey, the Consumer Federation heard 2200 in São Paulo.
Ana Luísa Westphalen, the State Agency
Source: Estadão Online
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