In Mexico, about 9.1 million people over the age of 18 have some kind of informal credit in place and, of these, 3.5 million used it to buy food, personal expenses or to pay for services such as electricity, water, among others.
Informal loans range from family loans to orders from agiotists outside institutions such as multiple banking. And, according to the 2019 National Household Finance Survey, the bulk of these debts go to support payments.
However, of the total number of debtors estimated by the survey, in the informal way, 1.6 million spend resources on health expenditure. This behavior is mostly observed among women than among men.
Education is also important, so more than a million people use informal loans to pay for educational expenses. And of this total, 60% are women.
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vocesAbusive loans sink the middle class
They use payroll loans to pay debts
But Mexicans are also indebted in the formal way, albeit to a lesser extent. At the time of the survey, there were 4,307,335 million adults who had a payroll credit or staff credit with a formal institution.
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