Consumers have steadily improved their finances over the past couple of years, but two new reports this week indicate that the trend might be ending.
Valley bankruptcies decreased in September but at the weakest pace in more than two years, and the proportion of consumer loans that were delinquent nationally rose slightly in the second quarter.
“A leveling off in delinquency rates was inevitable after a four-year downward trend that saw consumers reduce debt and dramatically improve their personal balance sheets,” said James Chessen, chief economist for the American Bankers Association, which released the delinquency figures.
Read more...Metro Phoenix bankruptcies dip at weakest pace in two years
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