The numbers of people in debt are alarming and will break records in 2023
The number of over-indebted people breaks records and reaches alarming levels by 2023. According to a recent survey carried out by Serasa, in January 2023 alone the country recorded 70 million people in debt, which set a new record for the last 5 years.
The age group most affected, according to research by the institute, are people aged 60 and over, with an increase of 17% – compared to 12% for other ages.
Faced with this scenario, the Desenrola program will soon come into action.
How is the Desenrolla program?
The program promises to facilitate debt renegotiation for some 40 million negative Brazilians. Through Desenrola, the government will hold auctions to negotiate discounts on consumer debts with banks, retailers and water, gas and telephone companies.
Debts cannot exceed the ceiling of BRL 5,000 and the consumer must have an income of up to 2 minimum wages, including Bolsa FamÃlia. A default fund will cover any negative obligor post-trade default. If the citizen has an income above 2 minimum wages, there will be no Treasury guarantee in case of default.
Debts will be negotiated at a discount and payment can be split up to 60 months. The platform will have an interest rate table for each bank, so consumers can choose the rate they find most attractive.
Most of the debts are not with the banks
Contrary to popular belief, most of the country’s debts (66.3%) are not with banks, but with retailers and water, gas and telephone companies. Debts already amount to 301.5 billion reais, according to Serasa data for October 2022.
Desenrola will have a portal where consumers can enter their CPF and see if their debt has been subject to renegotiation.
Financial education for young people
Lack of financial education is clearly one of the biggest factors leading to over-indebtedness. In this scenario, Generation Z, who will soon represent the future of the country, has become the target audience of companies specialized precisely in working on this financial education.
This is the case, for example, of NG Cash, a startup that already has more than 1 million users in its base and is a digital application designed to help Generation Z become more financially independent. From the point of view of a financial hub, the company intends to accompany its customers throughout their lives and increase the knowledge of financial education.
Source: Terra
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