CHANTILLY, Va. — A survey conducted by Online Resources Corporation here showed that a growing number of Americans have reorganized their payment priorities into a "delinquency budget" by prioritizing bills to be paid and lowering or halting any savings.
More than 1,000 households in all demographic groups were included to make the survey a national representation of how consumers are reacting to the economic downturn. Key findings are: 52% of households report that it's harder to meet their obligations; half are taking money from savings to pay bills; and credit card delinquency rates remain higher than other debts but mortgage and utility delinquencies are also growing.
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