Red flag for US economy: record 7 million Americans are 3 months behind on car payments

The New York Fed said there were over a million more “distressed borrowers” at the end of 2018 than in 2010, when unemployment reached 10% and the default rate of auto loans peaked. Today, the unemployment rate is 4%, and many more Americans have jobs, but a significant number of people cannot pay their car loans.

Source link

Previous Secured credit cards vs unsecured credit cards
Next Here's why Just Energy Group shares fell today