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More people are falling behind on debt, but fewer are in collections

Nov 8, 2023
Just before the pandemic, the New York Fed found that about 9% of people had bills that ended up in collections. Now, less than 5% do.
Medical debt previously made up about 60% of debt in collections. But data shows it doesn’t tell you much about someone’s creditworthiness.
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Why would China sell off its U.S. debt — if that's what it's doing

Nov 7, 2023
There's a hot debate about what it's doing with its holdings, and the answer could affect how much it costs Americans to borrow money.
"We care about whether foreign governments or entities are buying U.S. Treasurys because it impacts the cost of borrowing in this country," said Jesse Wheeler of Morning Consult.
Mark Schiefelbein/POOL/AFP via Getty Images

Corporate debt is getting more expensive. That's not necessarily a problem.

Oct 27, 2023
Both government and corporate bond yields have been climbing. For many companies, though, higher revenue more than covers the cost.
A lot of companies sold bonds to investors a few years ago, when interest rates were low.
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Why the U.S. budget deficit grew so much in the last year

No surprise: Inflation, higher interest rates and the pandemic all play a role.
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Inflation, high interest rates, and access are all part of credit card debt exceeding $1 trillion

Aug 9, 2023
A strong labor market also means people feel more confident they'll be able to pay the debt back.
Gen Zers are are growing their credit card balances at a faster pace than any other generation, and are confident they'll be able to pay it back in the future.
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Are Americans ready to start paying student loans again?

Jul 24, 2023
Student loan payments will resume this fall, but a new study from TransUnion shows that many people have taken on new debt in the meantime.
More than 40 million people have federal student loans, and payments will resume this fall after a multiyear hiatus.
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As offices sit empty, some banks are more cautious about commercial real estate loans

Jul 4, 2023
Office building vacancies remain elevated, especially in coastal cities. Lenders worry about developers’ ability to pay back their debt.
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What do people do with stimulus checks? Yes, buy stuff — but also pay down debt

Jul 3, 2023
A recent study from the Federal Reserve Bank of New York shows that people often use government stimulus money to pay off debt — especially if they have a lot of it.
"Paying down your debt actually increases your future consumption, and that gives you a higher lifetime satisfaction," said the New York Fed's  Gizem Koşar.
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How a college credit card signup led to $20,000 in debt

Apr 24, 2023
Yanely Espinal, host of Marketplace's podcast "Financially Inclined," tells the story of taking on a financial responsibility she wasn't prepared for.
"I sat down, added up all the credit card debt that I had," Yanely Espinal said. "And it was just over $20,000. That scared me half to death."
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Businesses and consumers are borrowing more, despite rising interest rates

Mar 1, 2023
Total loan balances rose from last quarter and year over year, according to the FDIC. There are good reasons to borrow now.
Some consumers are opting to use home equity loans to pay off credit card debt.
Damien Meyer/AFP via Getty Images