Recent reports from the New York Federal Reserve and other sources indicate that lower-income Americans are experiencing increased financial stress, with many finding payments unaffordable. The withdrawal of government support programs that were introduced during the coronavirus pandemic has led to signs of financial turbulence, including missed payments on auto loans and credit cards. Credit card debt in the United States has surpassed $1 trillion, with delinquencies on the rise in 49 of 50 states, and many missed the opportunity for ultra-low mortgage rates. The Bank of England's survey suggests a growing number of people defaulted on loans leading up to Christmas, and this trend is expected to continue.
NY FED FINDS LOWER-INCOMES FACING MORE FINANCIAL STRESS (Reuters) Lower-income Americans are starting to face nascent signs of financial turbulence now that government support programs tied to the coronavirus pandemic have wound down. https://t.co/ttsRzuFDnj
Most Americans who failed to pay student loans say they can’t afford to keep up https://t.co/rXMdgc64Ei
More than half of Americans who’ve failed to pay student-loan bills since the October restart said the main reason was that payments were unaffordable, according to new research https://t.co/hw0buW5Wyt
THESE AMERICANS ARE STRUGGLING TO PAY THEIR BILLS ON TIME, NEW YORK FED SAYS: ‘FINANCIAL STRESS APPEARS TO HAVE RISEN.’ (MSN) Low-income borrowers are increasingly missing payments on their auto loans and credit cards, and missed the boat on ultra-low mortgage rates, according… https://t.co/TbQv7MEd76
America's debt timebomb: Missed credit card payments are UP in 49 of 50 states as grim study shows where inflation and high interest rates have wreaked most havoc https://t.co/pIhlAl55Yn https://t.co/WDCL57jvMe
One third of UK adults will run out of money by the end of January due to higher winter bills and financial strain from Christmas expenses, a survey by Credit Karma found. It found that 56% of those who will run out of money during the month will have spent their entire monthly… https://t.co/RmC9Y3l7fK
One in three UK households to 'run out of money' in January https://t.co/7KfOAlZx5B
One third of UK adults will run out of money by end of January, survey says Read more ⬇ https://t.co/1GAGL61ecr
The numbers of people defaulting on loans grew in the run up to Christmas and is expected to rise again, according to a survey of banks and building societies conducted by the Bank of England. Read more 🔗 https://t.co/XUX59pYxpw
Americans used credit cards to keep up with inflation. Now they're increasingly failing to keep up with the payments. https://t.co/CAfONtdmzD
Americans have racked up more than $1 trillion in credit card debt and they're increasingly unable to keep up with the payments. These are the states where credit card delinquencies are rising the most https://t.co/DCxk8LELTw
These Americans are struggling to pay their bills on time, New York Fed says: ‘Financial stress appears to have risen.’ https://t.co/NU5YUL18cV
⚠️ NY FED FINDS LOWER-INCOMES FACING MORE FINANCIAL STRESS (Reuters) Lower-income Americans are starting to face nascent signs of financial turbulence now that government support programs tied to the coronavirus pandemic have wound down, but any problems are relatively… https://t.co/PA3sxkSFht
These Americans are struggling to pay their bills on time, New York Fed says https://t.co/wyIuhCNeKU