Consumer debt delinquencies fall
WASHINGTON – The portion of consumers with payments overdue on credit cards, auto loans and other debt dropped in the first three months of the year to the lowest level since 2007, according to the American Bankers Association.
Overall, the percentage of consumer loans that were at least 30 days overdue dropped to 2.35 percent in the January-through-March period, down from 2.49 percent in the last quarter of 2011. It was the best performance since the second quarter of 2007, and put consumer delinquencies below the 15-year average of 2.4 percent, the group said.
At the worst point during the Great Recession and its aftermath, about 3.35 percent of consumer loans were overdue.
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