Delinquent Debt in America

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Delinquent Debt in America

Consumers are a major factor in economies. Their spending habits are often used as a bellwether for public confidence in a country’s fiscal standing. A portion of US consumer spending is financed with debt—cumulatively $11.23 trillion in September 2013, down from $12.68 trillion in 2009 (Federal Reserve Bank of New York 2013).

Download Urban Institute Study (PDF)

 

Vicious Debt Cycle

Delinquent Debt in America

Are you like many Americans… running out of time? When families are unable to meet their payment obligations on either type of consumer debt, they risk moving from a healthy asset-accumulation cycle to a vicious debt cycle. Their credit history and scores can be adversely affected, their debt may go into collections, and they may ultimately lose property and future financial opportunities. Learn more about e Urban Institute study on Delinquent Debt in America below:

Productive Debt

purchasing a home, financing a new business, and investing in education or skills training can help families accumulate wealth and achieve upward mobility.

Unproductive Debt

Meeting basic needs and expenses, such as when an unforeseen job loss or medical crisis arises, or to purchase items that cannot be covered with current resources - does not have the same long-term benefits and is therefore riskier for families.

Debt-Ceiling-Uncle-Sam

Delinquent Debt in America

While the geographic distribution of income, home prices, and many other important economic-factors have been researched extensively, delinquent debt has largely gone unexamined. This brief paints a geographic portrait of financially distressed consumers in the United States.The degree of financial distress across the United States, as measured by the percentage of people with debt past due and debt in collections, differs greatly by geographic location. The South has particularly high rates of financially distressed consumers, especially the percentage of consumers who have debt in collections.

Download the study free below and call (212) 461-3272  for help understanding and resolving financial distress for consumers with delinquent debt in America.

Download Urban Institute Study (PDF)

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