U.S. consumer debt is currently more than $14 trillion, although consumer delinquencies remain low. “Spurred by low interest rates and loose financial conditions, we estimate that total global debt will exceed $257 trillion in the first quarter of 2020, driven mainly by non-financial sector debt,” the Institute of International Finance (IIF) noted in a new research report.
For individual consumers, managing their debt can lead to the need for personal loan products and alternative payment methods.
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