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Top related persons:
Kassandra Martinchek - 2 It's - 1 Charlie Wise - 1 TransUnion's - 1 Young - 1 Wise - 1 TransUnion - 1
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TransUnion Federal Reserve Bank of New York , New
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Urban Institute - 2 Getty - 1 Federal Reserve Bank of New - 1 New York Fed - 1 Finance - 1 Fed - 1

Search resuls for: "Kassandra Martinchek"


3 mentions found


☆ Americans are going into debt to buy groceries. Here's why those balances can be difficult to pay down
  + stars: | 2024-05-20 | by ( Lorie Konish | ) www.cnbc.com   time to read: +2 min
Lordhenrivoton | E+ | Getty ImagesMany shoppers have been shocked by what they pay at the grocery store checkout. Many families dipped into their savings or turned to credit cards, buy now, pay later installment programs or payday loans to pay for groceries in 2023, according to new research from the Urban Institute. watch now"That might mean that folks are having to rely on liquidity sources other than their income to be able to meet their very basic needs, their food needs," she said. Households with greater levels of food insecurity were more likely to use payday loans, buy now, pay later programs or savings to pay for basic needs, according to the Urban Institute. Of those who used buy now, pay later for groceries, 37% of adults missed payments on those loans.
Persons: Kassandra Martinchek, It's Organizations: Getty, Urban Institute
☆ Average consumer carries $6,218 in credit card debt, as more borrowers are falling behind on their payments
  + stars: | 2024-05-16 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +2 min
Americans now owe $1.12 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. Keeping up with credit card debt is getting more difficult. "Rent, when you have it, auto loans, utilities, these are all things consumers prioritize ahead of credit cards." As a result, credit card delinquency rates are higher across the board, the New York Fed and TransUnion found. Over the last year, roughly 8.9% of credit card balances transitioned into delinquency, the New York Fed reported.
Persons: Charlie Wise, TransUnion's, Young, Wise, TransUnion, Kassandra Martinchek Organizations: Federal Reserve Bank of New, New York Fed, Finance, Fed, Urban Institute Locations: TransUnion, Federal Reserve Bank of New York, , New
☆ 'Young adults are particularly vulnerable to delinquencies' — 1 in 5 have debt in collections, new report finds
  + stars: | 2022-12-21 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +1 min
Americans across the board are struggling with credit card debt. "Young adults are particularly vulnerable," the authors of the report wrote. Overall, credit card balances are surging, up 15% in the most recent quarter, the largest annual jump in more than 20 years. At the same time, credit card rates are now over 19%, on average — an all-time high — and still rising. "Because young adults have this unique vulnerability, it's easier for a financial shock to happen and throw you off your path," Martinchek added.
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