Continuing with our documentary...
Enrique welcomed us nicely and we started the interview. On our first interview we had some camera problems so we didn’t let this happen again and brought two professional cameras with their tripods. Enrique started to tell us how people in Peru are starting to have more knowledge about credit, loans, quotas, etc but that there was still a lot to keep on working.
I asked Enrique if he could explain to us the problem in the Peruvian culture related to the interest rates of the quotas or credit cards; he replied something that I had never heard before but made sense. Enrique started like this “People in Peru do something called ‘Carrusel’ this means that they take out a loan or credit card and just buy, buy and keep on buying without realizing their interest rates nor the amount of money they are investing, which generally is more than what they earn. People get this huge loan so they decide to get another credit card or loan to pay their first credit card. The cycle continues and the debts get bigger”.