More Americans fall behind on installment loans
January 03, 2008
Don't feel bad if you've been late paying your installment loans. You're not alone. The American Bankers Association says the delinquency rate on these consumer loans rose to 2.44% between July and September.
The Associated Press says that's the highest it's been since the recession of 2001.
“Credit card holders continued to improve on-time payments during the third quarter despite obvious stress in the housing market,” James Chessen, the group's chief economist, says in a statement. “Modest income and job growth helped ease consumers’ financial stress even as they worried how to pay for the rising costs of gas, food, and energy.”
Source : http://blogs.usatoday.com |
