The most dramatic cases of indebtedness in Mexico , mostly due to misuse of credit cards and personal loans, led to an average debt of 135 thousand pesos , according to the banking firm Resuelve tu Deuda (Sort Out Your Debt) .
Juan Pablo Zorrilla, the managing director of the firm
, which specializes in credit repair, explained that in the case of men, the average debt was of MXN$142,000 with an income of 15 thousand pesos . In the case of women, the average debt was of MXN$126,000 pesos with an income of 12,248 pesos .
This indebtedness behavior has been relatively stable since 2009 , since the average debt nine years ago was of 125 thousand pesos, which has increased in real terms due to inflation levels.
Per state, Mexico City ranked highest in number of debtors , with 2 of every 10 defaulting debtors looking to solve their over-indebtedness problem, followed by the State of Mexico, Jalisco, Veracruz, and Puebla .
Zorrilla
explained that the main cause of indebtedness was mismanagement of credit and consumption, followed by income reduction and loss of employment.
The director added that the results did not yet reflect the increase in the Bank of Mexico ’s benchmark rate, though according to Resuelve tu Deuda , most people increase their debt in the month of October , due to issues in credit card management, followed by January and February .
For the moment, the firm has 22 thousand active costumers , and in 9 years of operation , has renegotiated MXN$320 million worth of banking debt .
The Mexican firm currently operates in Argentina, Colombia, and Spain , with short-term plans to expand to Peru, Chile, Brazil, Portugal, Italy, and Poland .
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