Rising cost of living is the main reason for requests for help from Deco

Rising cost of living is the main reason for requests for help from Deco
Rising cost of living is the main reason for requests for help from Deco

The increase in the cost of living is now the main reason for requests for help from needy families to the Deco consumer protection association, instead of the drop in income, the association reported this Thursday.

“We didn’t notice an increase in the number of complaints, there are almost 20 thousand just like last year. But we noticed a difference in the reasons for the requests for help”explained the coordinator of Deco’s Financial Protection Office, Natália Nunes, in statements to Lusa.

The decrease in income, namely motivated by the loss of business due to covid-19, is no longer the main reason for families’ requests for help.

This year, the increase in the cost of living, as a result of increases in supermarket prices and electricity or gas bills, has been the main reason for requests for help and information to the association. Many of these requests for help are from families who are not yet in a situation of not being able to pay the bills, but who anticipate that this possibility is about to arrive.

To those who ask for help, due to the increase in the cost of living, Deco recommends looking at expenses to see if there is a way to reduce expenses and check if there is room for negotiation with the bank regarding the contracted credit conditions.

“We notice that there are more and more families with lower incomes”said Natália Nunes, explaining that inflation already has an impact on the budgets of families, namely those with high effort rates or very low incomes.

In the whole of 2021, the association received 30,000 applications from over-indebted families, compared to 30,100 in 2020 and 29,154 in 2019.

The article is in Portuguese

Portugal

Tags: Rising cost living main reason requests Deco

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