The number of Americans seeking relief on their bills dropped again in August, according to a new report, but an uptick in early delinquencies for car and mortgage payments could mean some are struggling.
The percentage of accounts in hardship programs for credit cards, auto loans, personal loans, and mortgages all declined in August from July, according to a TransUnion’s report based on 5 million consumer credit records.
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But the share of accounts 30 days past due for auto loans edged up to 2.61% from July’s 2.53%, while mortgages that were a month behind increased to 1.74% from 1.7% in July.
“The 30+ days past due metric can be used as an early indicator that an account may go delinquent,” said Matt Komos, vice president of research and consulting at TransUnion. “However, it does not necessarily