From USA Today:
Credit Card Payment Problems Fall
Five of the six biggest credit card companies showed fewer card holders falling behind on their payments in October and fewer balances being written off by the companies, which in the past few years have written off billions of dollars as uncollectible. Four of the six biggest issuers, including the largest, JPMorgan Chase, reported their lowest levels of bad debt and late payments this year. Only Bank of America reported an uptick in loans it gave up trying to collect, to 10.15% of balances from 9.98% in September. [click here to continue…]
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