Chart showing borrowers are slowing getting out of hardship loans

Renewed federal assistance to consumers has reduced the chances that many loans now in accommodation will become delinquent or charged off later on, a TransUnion executive said.

A report released Tuesday by the Chicago credit reporting agency found the percentage of accounts in some form of forbearance or other hardship accommodation was 2.87% as of Dec. 31, down from a peak of 2.87% on May 30. However, the pace of decline has been slowing.

Jason Laky, EVP and head of TransUnion’s financial services business, said those accounts are not counted in delinquencies or charge-offs, and lenders are hoping few will join them down the road.

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Jim DuPlessis

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