Fewer consumers are late for an important date
Loan delinquency rates are down across the board.
by: Lora Bray
Alice’s Adventures in Wonderland continues to hold a fascination for me as I reread the story and contemplate various analogies the characters prompt…
Alice sits at the water’s edge as White Rabbit bustles by, “Oh dear! Oh dear! I shall be late!” he mutters.
Curious Alice follows, plummeting into the rabbit hole after him.
“Down, down, down. Would the fall never come to an end!” she wonders.
The well was quite deep, and “she had plenty of time… to look about her and to wonder what was going to happen next.”
Consider the analogy we may draw to those who borrow: taking loans with the realization that “missing the important (due) date” might lead to falling down, down, down—into a well of debt.
Research this week provides a look into the trends in today’s wonderland of debt and delinquencies.
‘Oh my ears and whiskers, how late it’s getting!’—Rabbit
According to Rasmussen Reports, “29% Owe More Money Than Last Year.” Although nearly one-third of adults make this claim of indebtedness, only 20% say the interest rates they pay have gone up during that time.continue reading »