Use Caution to Climb Out of Credit Card Debt
The Record, Bergen County, NJ (July 27, 2004)
Author: Jeff Brown
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Here's an ominous statistic: The number of credit-card holders who were seriously behind in their payments set a record in the final three months of 2003.
In a report last week, the American Bankers Association said delinquencies - payments more than 30 days overdue - soared to 4.43 percent in the quarter, up from the previous record of 4.09 percent set the quarter before.Use Caution to Climb Out of Credit Card Debt
An ABA economist said this was especially noteworthy because delinquency rates on all other consumer loans, including home equity, personal, and auto loans, had fallen.
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