Auto lenders brace for ‘payment shock’ as government aid ends
Lenders can expect an uptick in delinquencies as mortgage forbearance times out
As mortgage forbearance programs come to an end, auto lenders need to be aware of what consumer credit reporting agency TransUnion is calling “payment shock.” Payment shock occurs when consumers are obligated to make payments on debts at a higher level than they can afford, or are used to. In this case, as government subsidies […]
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