More Customers Fall Behind on Loan Repayments in November

Wed, 19 Dec 2007

The financial services company Capital One Financial have revealed that more and more of its customers fell behind on their repayments last month, as the credit crisis continues to take its toll. With the housing market slowdown persisting, these are dangerous times for homeowners with high loan to value loans .

The percentage of loans at least 30 days past due rose in November, up from 3.64 per cent in October to 3.68 per cent. That 0.04 per cent increase is a particularly sharp rise for a one month period, given that the last twelve months has seen the percentage increase by just 0.19 per cent in total, including the latest figures.

Charge-offs of managed loans also increased to 3.52 per cent in November, up from 3.36 per cent in October and 3.27 per cent in November 2006. Charge-offs stood at 4.55 per cent in the global financial services segment and 4 per cent for auto loans .
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