Reported about 18 hours ago
Credit card defaults in the U.S. have surged to the highest level in 14 years, with consumers facing unprecedented challenges due to rising debt and inflation. A credit card is considered in default after missing payments for over 180 days, resulting in serious impacts on credit scores and the inability to secure future loans. Financial experts advise proactive measures, such as negotiating with banks and exploring payment plans to avoid defaults, while stressing the long-term consequences on credit reputation.
Source: YAHOO