Reuters: Bankruptcy News: STXNEWS LATAM-Brazil consumer defaults fall in July-Serasa

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STXNEWS LATAM-Brazil consumer defaults fall in July-Serasa Aug 14th 2012, 12:08 Tue Aug 14, 2012 8:08am EDT Consumer delinquencies in Brazil fell in July for the second straight month, after individuals restricted credit-financed purchases, declining borrowing costs and a flurry of tax rebates that gave household income a boost, credit research company Serasa Experian said on Tuesday. The indicator fell 1.5 percent in July from the prior month, but jumped 10.5 percent on an annual basis, Serasa said. The drop in delinquencies was led by a decline in bank debt defaults, which slipped 4 percent on a sequential basis in July, Serasa said. Bounced checks rose 7.9 percent from June, while non-bank debt defaults rose 4.8 percent in the same period.

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