Past-due card debt sets record; other delinquencies drop
The Associated Press
WASHINGTON - The percentage of credit
card payments that were past due shot up to a record in the final
quarter of last year.
But delinquency rates for some other types of consumer loans dropped,
painting a mixed picture of how Americans are handling debt.
The seasonally adjusted percentage of credit card
accounts 30 or more days past due rose to 4.43 percent in 2003's
final quarter, the American Bankers Association reported in a
survey released yesterday.
That surpassed the all-time quarterly high of 4.09
percent, set in the third quarter of last year.
In the latest national jobs report, 8.2 million
people were unemployed in February, with the average duration
of 20.3 weeks without work.
That marked the highest average duration of joblessness
in more than 20 years.
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