For the second consecutive month, the percentage of indebted families fell in the country, reaching 76.1%, according to consumer debt and default survey (PEIC), the National Confederation of Trade in Goods, Services and Tourism (CNC) . The January result represents a 0.6 percentage point drop compared to December and 2 pp compared to the same period in 2024.
In January, 20.8% of Brazilians allocated more than half of debt income, the highest percentage since May 2024. On average, families allocated 30% of gains for this purpose, an increase of 0.2 pp. The study showed the growth of indebtedness perception, with 15.9% of the population considering being “very indebted”, compared to 15.4% at the end of last year.
“High interest rates and credit selectivity make consumers seek less debt and, as an adverse effect, increase their indebtedness perception. The slight improvement in default indicates that there was an effort in Brazilian homes to balance their finances, but the growing commitment of income lights a warning signal for the economy in 2025, ”says CNC-SESAC System, José Roberto Tadros .
According to the entity, as a consequence of this growing concern, fewer families are delayed. They now represent 29.1% compared to December 29.3%. The percentage of those who cannot afford what they should also have a monthly retreat from 13% to 12.7%. Nevertheless, the results still remain above the levels observed in January 2024, of 28.3% and 12%, respectively.
“Despite the fall in indebtedness, debts are consuming a larger portion of the income of Brazilian families, especially because of high interest and shorter deadlines. This scenario can maintain delinquency in high levels in the coming months, ”explains CNC chief economist Felipe Tavares.
The research also analyzed the debt by income range. There was a drop of 0.8 pp among families receiving more than ten minimum wages (65.3%) and 1 pp among those earning up to three minimum wages (79.5%) compared to December.
The most vulnerable families – up to 3 minimum wages – represented the only group whose percentage of indebtedness increased, compared to January 2024 (79.2%).
The departure of default proves to be a longer way. The reduction of the portion of consumer delayed debt occurred only among those who earn from three to five minimum wages, from 28.1% in December to 27.5%. Over the course of 1 year, there was a relief only in the range between five and ten minimum wages, with the index falling from 22.7% to 22%.
The card remains the main type of credit used by consumers, reaching 83.9% of total debtors, even with a retraction of 2.9 pp, in the annual comparison. On the other hand, personal credit is highlighted, with an increase of 1.3 pp, reaching 10.9%, and the booklets, with growth of 0.6 pp compared to 2024, reaching 16.8%.
Despite the recent improvement in index of debt and default, CNC warns that household indebtedness may grow again throughout the year. The percentages should begin to rise from March, closing 2025 with 77.5% of indebted Brazilian families and 29.8% defaulting.
“The need to resort to consumer credit, coupled with the maintenance of high interest rates, should make financial management an even greater challenge for Brazilian consumers,” said economist Felipe Tavares.
