Defaulted Borrowers Don’t Understand How Debt WorksRupert Hargreaves
Over the past two years, a trend has emerged in US consumer debt: people are borrowing more, but defaults are rising.
As I reported at the end of November, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data, total household debt increased by $116 billion to reach $12.96 trillion in . . .
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