Despite COVID, Hardship Accounts Decline Continued in August

Despite COVID, Hardship Accounts Decline Continued in August

 

For the second consecutive month, the total percentage of accounts in “financial hardship” for auto, credit card, mortgage and personal loans fell across the board in August, according to a consumer credit snapshot by TransUnion. In particular, the percentage of accounts with mortgage loans in financial hardship declined below 6% for the first time since April to 5.92% in the month of August.

 

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