U.S. consumers having easier time paying off debt

According to the American Bankers Association, time repayments improved on all 11 consumer loan categories for the first time since 2004.   The ABA reports that delinquencies are still high but there is improvement in the consumers ability to make payments in auto loans, credit cards and other debts.  The broad delinquency category which covers eight types of loans fell to 2.49 percent from 2.59 percent, the lowest level since 2008. Delinquencies on payments for credit cards provided by a bank fell to 3.17 percent from 3.25 percent. The delinquency rate for home equity loans fell to 4.08 percent from 4.12 percent. The ABA defines delinquencies as payments that are 30 or more days overdue.

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