Americans have skipped payments on more than 100 million student loans, auto loans and other forms of debt since the coronavirus hit the U.S., the latest sign of the toll the pandemic is taking on people’s finances.
The number of accounts that enrolled in deferment, forbearance or some other type of relief since March 1 and remain in such a state rose to 106 million at the end of May, triple the number at the end of April, according to credit-reporting firm TransUnion.
Source: Education Headlines (educationheadlines.net)
U
ocrossborder Doesn't bode well for the UK property market post summer as the US problem will spread to UK/europe
They couldn't pay those loans if they were working at fast food.
F CNN
No shit. Yet the media wants us closed forever.
It’s all magic money anyway.....Dow futures up 1000.
🚨Hoping none of them were at Scottsdale, AZ or else, it would be quintessential definition of 'Moral Hazard' 👇
Usury
Maybe, just maybe, that’s why the banks jacked up their loan loss reserves in Q1
To the surprise of nobody
“the layoffs related to the coronavirus have taken a severe economic toll” Umm.... no shit
And all the people said, “Duh”.
These missed loan payments will never get paid. Somebody is going to eat these loan losses.
Breaking :-25-year-old woman travelling with her children was allegedly raped on a moving bus...
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