delinquencies

New delinquencies have largely stabilized after a big spike a couple of years ago, but lots of people are still carrying around old credit card debt they fell behind on.

Last month, 6.65% of subprime borrowers were at least 60 days late on their car payments. That’s the highest delinquency rate since the 1990s, according to Fitch Ratings.

But other positive factors in the economy are limiting the potential damage, economists say, like low unemployment.

Fewer loans means less consumer spending, and less consumer spending means lower inflation.

They’re setting aside more cash to cover delinquencies and taking closer looks at prospective borrowers.

Government relief checks helped.

April saw the biggest one-month jump in U.S. home loan delinquencies ever.

It can be indication to banks that you’re unlikely to pay at all.

Oh, and the interest on that outstanding debt? It’s getting more expensive.

Consumer advocates say it’s time to loosen restrictions imposed after the housing collapse.