Behind On Credit Card Debt? You’re Not Alone.
By Jay Fleischman, New York Bankruptcy Lawyer on Mar 22, 2007 in General Bankruptcy Information
If you’re falling behind on your credit card debt, maybe it would be helpful to know that credit card delinquencies are up according to Moody’s. After several years of general improvements in payment performances, January of 2007 marked the beginning of a slide back down.
What’s even more startling is the fact that the rating agency expects the level of delinquencies to rise for the rest of the year. The delinquency rate, which measures the proportion of account balances for which a monthly payment is more than 30 days late as a percent of total balances, rose to 3.91 percent in January from 3.40 percent a year earlier, according to Moody’s.
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