Credit card delinquencies are rising. Here's what to do if you're at risk

by Cora Lewis Associated Press

NEW YORK (AP) — Seriously overdue credit card debt is at the highest level in more than a decade, and people 35 and under are struggling more than other age groups to pay their bills. The share of credit card debt that's severely delinquent, defined as being more than 90 days overdue, rose to 10.7% during the first quarter of 2024, according to the Federal Reserve Bank of New York. A year ago, just 8.2% of credit card debt was severely delinquent. If you're experiencing delinquency or at risk of it, experts advise speaking with a nonprofit credit counselor and negotiating with your creditors directly. Here's what you should know: What Should I Do If I'm At Risk Of Delinquency? Bruce McClary, senior vice president at the National Foundation for Credit Counseling, says that…

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Scoopvizion (Digital) - 1 Issue, June 2024

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