U.S. household debt rose $334 billion to $19.1 trillion in the third quarter.

The share of credit card balances newly falling past due edged down even as balances rose $22 billion.

Among paycheck-to-paycheck cardholders struggling with bills, 41% said they paid in full less often than a year earlier.

Consumers living paycheck to paycheck who were keeping up with their bills grew less confident as recently as last month that they could manage their debt over the next year. Higher regular expenses and expenses that exceeded income were the two most common reasons cardholders gave for paying their balances in full less often.

Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

Among consumers living paycheck to paycheck who were paying their bills without difficulty, 61.1% said in October that they were confident they could manage their existing debt over the next 12 months. That was down from 71.2% in September and the lowest reading for the group since PYMNTS Intelligence began tracking it. The group accounted for about 4 in 10 consumers in the study.

29 trillion, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit , released Tuesday (Nov. 10). The shares of card balances newly moving into early or serious delinquency edged down. 7%, and the share moving into early delinquency rose for mortgages and auto loans.

Source link