Reuters: Bankruptcy News: FINNEWS LATAM-Brazil survey says low income families saddled with debt

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FINNEWS LATAM-Brazil survey says low income families saddled with debt Aug 15th 2012, 16:01 Wed Aug 15, 2012 12:01pm EDT According to Barclays analyst Fabio Zagatti, a survey conducted by local pollster ProTeste with 200 households living in Brazil's two largest states showed that low- and middle-class families are currently using an average 46 percent of their disposable income for debt-servicing. Barclays said on a Wednesday report that ProTeste found that 57 percent of respondents claim having outstanding debt of up to 500 reais ($246), while 39 percent said they owe at least 5,000 reais. The numbers show debt-servicing burden twice as high as official numbers from the central bank though, according to Zagatti, that probably reflects ProTeste's methodology that includes non-bank household debt. Over half of respondents indicated that they hold debt of up to three months of maturity, and about one-third have outstanding debt maturing after three years.

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