Overview
- Household delinquency rose to about 12.94% in July, leaving roughly 5.9 million people over 90 days behind on payments according to private estimates based on the BCRA debtor registry.
- Lenders and households recorded a wave of refinancings totalling an estimated 2.6 trillion pesos as an immediate response to rising defaults.
- The central bank activated a tool called Cobros por Transferencia that lets creditors debit fixed loan installments from a borrower’s account or wallet with prior consent and caps installments at 30% of income while limiting reattempts.
- Default is far worse outside traditional banks, with nonbank credit providers and digital wallets showing delinquency around 33%, a gap that concentrates losses among younger and lower‑income borrowers.
- Political and social pressure has grown: dozens of provincial and national bills seek caps on charges and limits on payroll discounts, the Church has urged regulation, and the government shows internal disagreement over intervening; under BCRA rules refinanced accounts remain classified as delinquent until several months of on‑time payments clear the record.