A leading credit rating company indicates in a new report that consumers are defaulting and making late credit card payments at near-record levels.

In its monthly Credit Card Index, Fitch Ratings reports that late payments reached record levels last month, with credit defaults also approaching new records.

"U.S. consumers continue to struggle in the face of mounting pressures on multiple fronts from employment to housing to net worth," said Fitch managing director Michael Dean in a statement.

Predictably, much of the rise in consumer credit card trouble can be attributed to growing unemployment and poor economic conditions in general. Consumers may also be having trouble extending their lines of credit, further adding to their financial difficulties.

According to the report, credit card charge-offs, which occur after six months of nonpayment, are likely to reach nine percent later this year, and currently stand at 7.50 percent.

The figures for retail credit cards are even worse, having jumped 44 percent in the last year. Currently, the retail card charge off rate is 10.51 percent, while the delinquency rate is 5.20 percent.

For consumers facing these and other credit problems, payday loans can be a useful tool when it comes to making payments on time and avoiding late fees and damaged credit scores.

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