More Americans fell behind in their credit card payments in the 3rd quarter of 2013. Typically the delinquency rate climbs around the fall due to back to school spending. The delinquency rate is expected to climb again in the 4th quarter this year as many consumers spend for the holidays and put off payments until the New Year if they can make them then.
Consumer debt has increased over all, but mostly due to auto loans and student loans while credit card debt remains most steady. However, new credit card accounts rose by 6% in the 2nd quarter of 2013.
If you feel the holidays are pushing you over beyond your ability to repay your debt, contact a qualified debt settlement attorney. A qualified debt settlement attorney can work to reduce the principal balance owed on a debt making repayment possible. Don’t let holiday spending get you down, contact a qualified debt settlement attorney.
Kevin Fallon McCarthy
Latest posts by Kevin Fallon McCarthy (see all)
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018
- Make Your Credit Cards Work for You - January 23, 2018