A study conducted between Solve Your Debt customers, the first credit repair in the country, was able to bring the average profile of the Argentine debtor closer. The analysis showed that 57% of the debtors included in the program are men, 54% of whom are single.
Approximately 87% of respondents said that overindebtedness is the main reason for us to find ourselves in this crime situation, i.e. They received more financial obligations than they could have paid. An important indicator of over-indebtedness is that it devotes more than 30% of its monthly income to debt payments. Rodrigo NadaThe director of the credit repair agency said that people, when they do not have control over their income and expenses, find themselves with much higher spending than they can when they see their summary of the account, which can lead to a lack of control in their financial resources and cause, to become overwhelmed.
The importance of financial education:
1 – The average debt of Argentines is around $ 118,000, while 52% of respondents feel that their salary does not exceed $ 20,000. In order to abolish this debt, almost five full salaries are required, without taking into account interests.
2 – The key to economic governance is good financial education from home. The most common financing errors are related to credit card loans, "said Rodrigo Nadal.
3- The expert explained that 48% of respondents have between two or three debts. In addition, most of these people range from 31 to 45 years old, followed by those aged 19 to 30 years old.
4- "This points to the importance of financial education in order to avoid accumulating debts that go beyond the person's ability to pay, especially among young people who are in the company for a few years," said Nadal.
5- According to a Central Bank report, 33% of people who have applied for loans to the financial system are equal to the payroll group. The Tucumán per capita is about $ 27,000, almost half of the national average.
6- The rate of crossover reached 4.1% in September 2018 (0.9 points more than in the same period of 2017). The highest level of delinquency was in the wage sector (5.1%) and trade (4.2%), the latest data from the central bank showed.
7 – The average level of delinquency so far in 2018 (3.8%) is the highest average of the last six years, which is close to 2011 (3.9%). The breakdown of the portfolio in Tucumán is slightly above the national average (4.3% compared to 4.1%).