10.7% severely delinquent credit card debt in Q1 2024, up from 8.2% a year ago; most affected age group 35 and under.
Credit card delinquencies are rising, with severely delinquent debt (over 90 days late) at 10.7% in Q1 2024, up from 8.2% a year ago. People aged 35 and under are most affected. Experts advise reaching out to a nonprofit credit counselor for help and negotiating directly with creditors. Nonprofits can assist in creating debt management plans with lower interest rates, no late fees, and a single monthly payment.
June 08, 2024
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