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The number of defaulters in Chile fell from 4,927,111 to 4,507,000 between the months of July and August, a period in which there was also a 6.2% drop in the total amount of delinquency.
This translates into a drop of 8.5% in the total number of defaulters.
But what happened when these records had a permanent upward trend? According to Equifax, a firm that handles the Business Information Directory (Dicom) This is due to two factors: the impact of the 10% withdrawal in the payment of arrears and the effects of the entry into force of the law that prohibits the publication of delinquencies related to education.
According to an analysis carried out by the company, last month there was a 6.2% drop in the total delinquent amount compared to July; and the number of people who came out of default rose 139% between July and August.
Education-related delinquencies
From Equifax they explained that they analyzed the impact of the new law that prohibits the publication of delinquencies related to education, which came into force in August.
In this context, it was observed that of the 544,556 people who came out of default during the period, 147,122 (27%) corresponded to the entry into force of said rule.
“It is important to consider that the beneficiaries were almost 300,000, but the rest did not come out of default because they have unpaid debts with other creditors. The rest, 397,434 people (73%) left the delinquency situation during the last month because they paid their debts ”, indicated Equifax.
Defaulters are reduced by 5.5% if those who left the report due to education debts are not considered
According to Equifax, the evolution of the number of defaulters fell 5.5% if you do not consider those who were delinquent due to the law that prohibits the publication of education debts.
The sectors that showed the greatest drops in the number of defaulters due to payments (isolating the effect of the new law) were Retail, Banking, Financial Activities and Insurance, Health and Other Service Activities.
The reduction in delinquency in Retail was 13.1%; in Banking, 9.1%; in Financial and Insurance Activities it was 2.9%; in Health it was 10.8% and in Other Services Activities it was 8%.
36.7% of the people who left default are between 30 and 44 years old; 25.3% between 45 and 59 years. It is also observed that of the total of those who came out of default, 18% correspond to people between 25 and 29 years old.
Socioeconomic group
In relation to their socioeconomic group, the 31.8% of the people who stopped having arrears belong to group C3; 29.6% to group D and 27.2 to group E.
Regarding their income, 39% have a monthly income between $ 300,001 and $ 500,000; 31.2% have incomes between $ 500,001 and $ 1,000,000, and 6.9% have people whose income is between $ 200,001 and $ 300,000.
Finally, and according to Equifax, 85.2% of those who defaulted had unpaid debts with a creditor; 12.6% had two creditors and 2.2% with more than two creditors. It was also observed that the average delinquency of those who defaulted was of $ 575,117.
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