Portuguese 
English 
Spanish 
3 min of reading 
0 comments 
Understand Why Companies and Families Still Carry Debts Since 2020, How the Selic Rise Aggravated the Scenario, and What to Expect for 2026
Even with a record number of formal jobs and high average income, Brazil has 8.1 million negative CNPJs and 78.8 million people in default, according to Serasa Experian (Aug/2025).
This scenario is a result of debts inherited from the pandemic and a rise in interest rates from 2% (Aug/2020) to 15% (Jun/2025).
This increase made credit more expensive and debt repayment more difficult.
Therefore, the expectation is that defaults will persist in 2026, even with cuts to the Selic. The rate is expected to end the year at around 12%, which still impacts income and hiring.
Evolution of the Number of Defaults
According to the Serasa Default Map, the total number of defaults increased continuously in 2025, rising from 74.6 million in January to 78.8 million in August.
Each person in default owes, on average, R$ 6,267.69, distributed across four debts of about R$ 1,578.23 each.
The main sources of debts are banks and cards (27.27%), utilities (20.83%), and financial institutions (19.51%).
Pressure on Brazilian Families
The Inter Bank (2025) points out that household indebtedness, excluding mortgage financing, stands at 30.6% of income.
The average commitment reaches 26.3%. According to Flávio Ataliba Barreto (FGV/Ibre), after the pandemic, Brazil reached a new level of indebtedness.
This increase was driven by high interest rates, non-consigned loans, and constant use of revolving credit. Between 2017 and 2025, the number of indebted families rose from 58% to 79%, while defaults reached 30%.
Even with declines in unemployment, increases in average income, and the Desenrola Program (ended in 2024), the improvement was insufficient.
-
Mercado Livre “opens the vault” and announces a record investment of R$ 57 billion in Brazil in 2026, a value 50% higher than the previous year, with an expansion plan that includes 14 new logistics centers, totaling 42 units in the country and hiring an additional 10,000 employees.
-
How investment in technology can revolutionize the national economy and enhance industrial gains, according to a study that highlights the direct impact on productivity, innovation, and wealth retention within Brazil.
-
The largest food company on the planet, JBS, has just opened a 4,000 square meter laboratory in Florianópolis to develop customized proteins that modulate muscle mass gain, immune response, and metabolic performance.
-
After nearly 30 bids and competition among industry giants, a Spanish company purchases one of the largest airports in Brazil for almost R$ 3 billion and takes over the management of Galeão in a concession that will last until 2039.
Timeline and Official Sources
• 2017–2020: Fall of the Selic and stagnant real income after the impeachment (Source: FGV/Ibre).
• 2020–2022: Pandemic, inflation, and unemployment compress income (Sources: FGV/Ibre, Serasa).
• Aug/2020–Jun/2025: Selic rises from 2% to 15%, increasing the cost of credit (Source: Central Bank).
• 2025: 78.8 million in default (Source: Serasa).
• 2026: Selic projected at 12%, keeping credit tight (Sources: FGV/Ibre, Serasa Experian).
Companies Also Face Indebtedness
While families struggle with tight budgets, Brazilian companies face record defaults, worsening the economic scenario.
In August 2025, Serasa Experian registered 8.1 million negative CNPJs, a significant increase from 7.1 million in January and 6.9 million in August 2024.
Additionally, the country has 24.5 million active companies, and the average value of debts rose from R$ 21.6 million (2024) to R$ 24.6 million (2025).
Corporate debts are concentrated in services (31.9%) and banks, cards, and financial institutions (23.4%). According to Camila Abdelmalack (Serasa Experian), reduced margins, weak demand, and tight credit since 2022 limit investments and hiring.
Thus, defaults are expected to remain high in 2026, especially among micro and small enterprises, which account for 93% of active businesses.
How to Balance the Budget in 2026
Given the high interest rates, it is essential to replan the household budget consciously. Experts recommend renegotiating debts, avoiding revolving credit, buying in cash, and creating an emergency fund, which increases financial security.
According to Barreto (FGV/Ibre), financial education will be key to containing the increase in defaults and restoring balance.
Therefore, understanding where to cut expenses and how to adjust consumption is crucial to rebuilding the financial health of Brazilian families.
Seja o primeiro a reagir!