Marli Moreira           Reporter Agência Brasil

Brasília – Consumers had difficulties paying their bills in the first half of 2011, according to the Serasa Experian Index of Consumer Defaults (“Inadimplência do Consumidor”). In fact, Serasa says there was a 22.3% rise in defaults during the period, compared to the same period in 2010. That was the highest increase since 2002.

There was a sharp rise (over 8%) in so-called non-banking debts with banks – credit cards, loans made outside banks, installment plans in stores (buying on credit in general), as well as falling behind in paying phone, electricity and water bills. The number of rubber checks rose 18.9%. However, there was a drop of 11.7% in cases of creditors suing for payment, which kept the index from spiking even more.

The Serasa consumer default index was 29.8% higher for the month of June 2011, compared to June 2010, and much higher than the monthly average of 21.7% between May 2010 and May 2011.

Serasa economists explained the spike in defaults as being the result of “monetary policy to control inflation, higher interest rates, a jump in financial transaction taxes (“IOF”) and more expensive credit in general.”

Allen Bennett – translator/editor The News in English

Link - Inadimplência do consumidor tem a maior alta no semestre dos últimos nove anos, indica Serasa