More consumers defaulting on loans

After declining for almost four years in a row, consumer delinquencies ticked up again in the second quarter, the Nashville Business Journal reports^[1].

Delinquencies — individuals turning in payments more than 30 days past the due date — increased for personal loans, indirect auto loans, mobile home loans, marine loans, property improvement loans and home equity loans, according to the American Bankers Association^[2].

The number of loan defaults provides an indication of consumers' financial stability and ability to find meaningful work and maintain an adequate income.

Click here to see the full report^[3].

References

1. ^{^} the Nashville Business Journal reports (www.bizjournals.com)
2. ^{^} American Bankers Association (www.bizjournals.com)
3. ^{^} Click here to see the full report (www.aba.com)