Q4 Delinquency
Filed Under (Credit Cards) by admin on 03-04-2009
Consumer credit delinquencies in the fourth quarter reached its highest level ever, according to the American Bankers Association’s “Consumer Credit Delinquency Bulletin.” Based on total dollars uncollected, delinquency rose to 5.52% in the fourth quarter. Sequentially, delinquent dollars increased 78 ground points. Home equity lines of credit delinquencies also reached a new record, rising 31 basis points to 1.46%. Every category saw rising delinquencies except mobile home loans. The ABA report defines a delinquency as a late payment that is 30 days or more overdue.
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