Prior to the Great Recession, credit card delinquency rates were consistently higher than any other
form of debt delinquency.
Not exact matches
Meanwhile,
delinquency rates for each
form of household
debt declined, with about 8.1 percent
of outstanding
debt in some stage
of delinquency, compared with 8.6 percent the previous quarter.
Delinquency rates for other
forms of debt (student loans, home equity lines
of credit, and auto loans) were at relative highs as well.
And unlike
delinquencies on other
forms of household
debt,
delinquencies on student loans are still rising.
This massive study followed various credit
delinquencies — bankruptcies, foreclosures, excessive inquiries, limited credit history, a high
debt - to - income ratio, etc — in combination with people in the middle
of forming a relationship.
Here's a look at consumer
debt is snowballing, in the
form of bankruptcies and
delinquencies.