February 6, 2009 / 7:01 PM / 11 years ago

FACTBOX-Equifax US consumer credit trends for December

 By Helen Chernikoff
 NEW YORK, Feb 6 (Reuters) - U.S. consumers are falling further behind on their mortgages, car loans and credit card payments as the U.S. recession deepens, according to data from one of the largest U.S. credit bureaus.
 Equifax Inc’s (EFX.N) December Credit Trends report, drawn from 11 million credit profiles, was provided exclusively to Reuters.
 * Total personal bankruptcy filings rose 44 percent year over year in December.
 * Chapter 7 filings, which liquidate the assets of those unable to pay their debts, rose 67 percent compared with last December.
 * Chapter 13 filings, the so-called “wage-earners bankruptcy,” which establishes a payment plan for debtors, rose 16 percent.
 * 38.3 percent of homeowners with subprime mortgages were 30 or more days behind on the loans on their primary residences in December, up 23.9 percent year-over-year.
 * 0.97 percent of homeowners with a prime mortgage were 30 or more days behind on their loans in December, an increase of 16 percent from November and 0.49 percent from last year.
 * Almost 4 percent of payments on bank-issued credit cards were at least 60 days late, up from last year’s 3.26 percent.
 * In December, there were 414 million open bank-issued credit cards, down from a high of 438 million accounts in July 2008.
 * Credit limits fell as well, to $3.47 trillion in December from a July 2008 peak of $3.59 trillion.
 * 1.7 percent of borrowers of auto loans from carmakers were 60 days behind on the loans in December, up 4 percent from November and up 16.2 percent from last year.
 (For a story on the data click on: [ID:nN06456291])  (Reporting by Helen Chernikoff; Editing by Tim Dobbyn)   

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