consumer-debt

Credit Scores Fall for First Time in a Decade: FICO Report

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The typical American household needs an extra $11,434 a year to maintain the same standard of living it did in 2021. And nearly half of those with revolving credit card debt say spending on necessities contributed to their balance, according to an annual report from NerdWallet. Now, for the first time in a decade, consumer … Read more

Equifax says mortgage-holders in B.C., Ontario, increasingly missed payments during Q4

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Consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023, Equifax Canada said. The fourth quarter saw a continuation of what’s been happening for a while now as the impacts of higher interest rates and inflation continue to weigh on consumers, said Rebecca Oakes, vice-president … Read more