Default cases in Brazil record first decline in 2023

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Photo: Agencia Brasil
SAO PAULO. KAZINFORM - According to Serasa's Default and Debt Renegotiation Map, the number of people in default in Brazil saw a significant decrease for the first time in 2023 during the month of June. The total count of debtors stood at 71.45 million, showing a reduction of 450 thousand individuals compared to the previous month, marking a 0.63 percent drop, Kazinform cites Agencia Brasil.

This is the first time since December 2022 that the indicator has registered a decline, signaling a positive trend in the country's credit scenario. However, there has been an increase compared to June of the previous year, where defaulters totaled 66.82 million. Currently, the number of people in default represents 43.78 percent of Brazil's adult population.

The largest age group facing financial difficulties falls within the 41 to 60 years range, accounting for 34.8 percent of the total defaulters. Following closely behind, the 26 to 40 age group represents 34.7 percent of the defaults, while individuals above the age of 60 make up 18.1 percent of the total.

In addition to the decline in the number of default cases, there was also a slight reduction in the total volume of debts, decreasing from 264.5 million in May to 262.8 million in June, representing a 0.62 percent decrease. However, the total value of the debts experienced a modest increase of 0.15 percent, reaching 346.3 billion in June. The average debt per person increased by 0.78 percent, amounting to BRL 4,846.15.

Serasa, a reputable private company, holds a prominent position as a reliable source for credit decision analysis and information. It accumulates data from various sources such as stores, banks, and financial institutions and also facilitates debt renegotiations.


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