A study carried out by the Federation of Commerce of Goods, Services and Tourism of the State of São Paulo (FecomercioSP) shows that 77% of families have some debt, such as unpaid bills and real estate financing, which means that 1.45 million more families took on debt in the last two years. According to the survey, 29% of families have outstanding bills and 13% said they were unable or unable to pay off their debts. 
The survey interviewed 18 thousand families in 27 capitals in July. More than half of indebted families (52%) live in the Southeast states.
The capitals with the highest number of indebted families are: São Paulo (2,888,081), Rio de Janeiro (2,028,143), Distrito Federal (765,823), Belo Horizonte (744,993) and Fortaleza (712,465).
In terms of percentage, Porto Alegre and Vitória have a record of 91% of families in this situation. In Belo Horizonte, Boa Vista and Curitiba, the percentage is 90% and in Fortaleza, 88%. Campo Grande and Salvador (66%), Goiânia and Macapá (68%) and Belém (69%) have lower percentages.
The percentage of indebted families increased in four capitals in 2024 compared to 2022. The increase occurred in Teresina (from 61% to 86%), João Pessoa (78% to 87%), Porto Velho (72% to 84%) and Fortaleza (71% to 88%). There was a drop in Rio Branco (89% to 77%), São Paulo (75% to 68%) and Curitiba (95% to 90%) in the same period analyzed.
In a note, FecomercioSP explains that the differences between the capitals are related to the “macroeconomic conditions of each state and region, in which indicators such as inflation, interest and family income create different circumstances across the country, and the greater the number of families living with debt the more expensive credit becomes in the market, increasing, as a consequence, the risk of default, especially in a scenario of high interest rates or inflation putting pressure on consumption”.
In the technical note, Fecomercio states “even if this debt represents greater access for the population to credit and increased consumption, it also brings risks: if poorly managed, it can lead to default and exclusion from the market. Therefore, it is essential to balance the incentive consumption with measures that protect family budgets, especially the most vulnerable”.
For economist Fábio Pina, advisor at FecomercioSP, the level of debt is slightly above the historical average, but points out that employment data indicates good income conditions and a buoyant job market, which could allow families to reorganize their accounts. . “I don’t foresee a bump, I foresee a gradual slowdown in the economy next year. This gives you time in theory to make various adjustments, you do them in the private market and it gives time for the government to make adjustments where it needs to be done”, he explains .
