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A sharp rise in delinquency levels was registered in the country last April, with a total of people with defaults that reached 4,935,226, which means an increase of 2.5% compared to the previous month.
This is what was revealed in the XXVIII Default Debt Report prepared by the San Sebastián University with data from Equifax and Mapcity that, exceptionally, this time measured the delinquency in April as a result of the arrival of the coronavirus in the country, since this time only the figures had to be delivered to the first quarter.
“That undoubtedly responds to the difficulty that many debtors have in paying their debts and, consequently, they become new defaulters,” explained Gonzalo Edwards, dean of the Faculty of Economics and Business of the San Sebastián University. This means that in April there were almost 120,000 new defaulters.
The data is not less, considering that, according to the survey, between March 2020 and the same month of 2019, a period that considers the social crisis, the total number of new defaulters had been 210,925, that is, an increase of 1.7% in 12 months.
Thus, the rise recorded in April is the largest increase at least since October last year. However, there is a decrease in the average amount of default, since it fell 4.5%, from $ 1,887,930 in March to $ 1,802,346 in April, the largest decrease since at least October of last year.
“The figures reveal a growth higher than the trend observed in recent years, with a rate close to 5%. In the coming months, the negative effects on employment could exacerbate people’s difficulties in paying, and their ability to meet debt commitments, ”said Edwards.
On the other hand, the average default in March of this year reached $ 1,887,930, 4% more than in December 2019. All in all, 59% of delinquent debt is in banks, while 20% in retail. Of course, 42% of delinquent debtors are concentrated in retail, followed by 28% in banking.
In Greater Santiago, the communes with the highest average default are Vitacura, with $ 6,039,687; Providencia, with $ 5,060,408 and Las Condes with $ 5,049,550. Meanwhile, Puente Alto, Maipú and Santiago have the largest number of delinquent people in the Metropolitan Region.
The incidence of community delinquencies is concentrated in the southwestern sector of the capital, for example, communes such as San Ramón and Lo Espejo are observed. “This situation could be exacerbated, considering the importance of informal work in these sectors,” added the dean.
Regarding the situation in the rest of the country, the regions with the highest average default are Antofagasta with $ 2,594,487; the Metropolitan, with $ 2,172,623, and Tarapacá, with $ 2,043,756.
By sex, the number of women with any delinquent debt is 2,460,916, while men reach 2,354,779. The average delinquency of women is $ 1,304,106, while that of men is $ 2,498,068.
When it comes to age, although the majority of defaulters are in the segment between 30 and 59 years old, the most important increase in March compared to the same period of the previous year, occurred in sections of 60 -69 years, and that of 70 years and over, with 11.1% and 8.9%, respectively.
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