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US consumers 'taking on more debt'
11/7/2008 12:00:00 AM
Gemma Roskell

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Consumers in the US took on more debt in September than they did in August, new figures from the Federal Reserve have revealed.

Market Watch reported that in September, total seasonally-adjusted consumer debt increased to $2.59 trillion - an increase of $6.86 billion.

And while non-resolving credit - student loans, auto loans and personal loans - had fallen by 4.9 percent in August, it increased by 4.4 percent in September, reaching $1.62 trillion.

Meanwhile, the San Antonio Express reported earlier this week that some US credit card customers are having trouble staying on top of their credit card debts.

The newspaper asserted that the largest credit card issuers in the nation - the Bank of America, Citigroup, Discover, American Express and Capital One - have reported an increase in late payments and closed accounts because customers cannot afford to pay.

People struggling with credit card debt may wish to consider a pay day loan to help consolidate what they owe.ADNFCR-1683-ID-18866216-ADNFCR



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