Rising Credit Card Delinquencies

Credit card delinquencies are on the rise, with nearly a fifth of borrowers maxed-out, according to a report from the New York Federal Reserve. Household debt rose by $184 billion in the first quarter of 2024, reaching $17.69 trillion. Delinquency rates increased for credit card and auto loans, with younger borrowers and those in low-income areas being more affected.

Financial Distress in Major U.S. Cities

A recent analysis by WalletHub revealed that Americans in major U.S. cities are struggling with financial distress due to high unemployment and inflation. Cities like Chicago, Houston, and New York City are among the most affected, with residents facing challenges in making debt payments. The report offers advice on budgeting, debt management, and consolidation to help individuals in financial distress.