Millions Of Loans Payments Skipped As Coronavirus Slows Economy

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Since the start of the coronavirus pandemic in the U.S., Americans have skipped payments on 100 million student loans, auto loans and other forms of debt, according to the Wall Street Journal.

The number of people who deferred payments of enrolled in forbearance or some other type of relief since March 1 rose to 106 million at the end of May, which is three times higher than it was at the end of April, the Journal reported.

Within student loans 9 million accounts in deferment or other relief status, up from 18 million a month earlier. Auto loans doubled in some type of deferment doubled to 7.3 million accounts and personal loans in deferment doubled to 1.3 million accounts.

Read more at The Hill.

{Matzav.com}

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