New statistics from America suggest that fewer people are having serious debt problems.
The number of default dropped for mortgages, credit cards and car loans. These figures were released today by, Standard & Poor. They jointly produce the S&P/Experian Consumer Credit Default Indices, using information collected from 11,500 US based lenders
The defaults on mortgages fell by 38 percent from 12 months ago while defaults on second mortgages dropped by 51 percent.
There is an old saying that where the US goes, we follow. So hopefully this is a good sign that debt pressures may be easing.
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