NY Fed warns that 12.9% of households teeter on the brink of delinquency.

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The New York Federal Reserve’s latest report sends shockwaves through the financial world as a staggering 12.9% of households in April express fears of falling into delinquency within the next three months. This grim statistic marks the highest level since the tumultuous days of April 2020, heightening concerns about the looming debt crisis. What’s particularly chilling is the sheer volume of debt burdening households today, painting a bleak picture of financial vulnerability on an unprecedented scale.

As families grapple with mounting debt loads, the specter of delinquency threatens to plunge them into a downward spiral of financial distress.

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