According to TransUnion, consumers aren't just falling behind on their mortgage payments, but their auto loan and credit card payments as well. The credit agency reports that in the fourth quarter of 2008, the number of auto payments more than 60 days past due rose by 8.9%, and the number of auto payments more than 90 days past due rose by 11%. At the same time, the average amount of credit card debt rose by .33% in the past year. However, TransUnion did state that these numbers are not as alarming as they sound, as auto loan delinquency actually decreased by about 11% in the past year, and the difference in the amount of credit card debt amounts to around $19 on average.
Source:
Consumers Falling Farther Behind on Payments
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