Study: Consumers buck conventional wisdom with debt payments

Consumers were more likely to pay their credit card bills than their mortgage in the third quarter, according to a TransUnion study. "This goes against conventional wisdom and that has always been that, when faced with a financial crisis, consumers will pay their secured obligations first, specifically their mortgages," said Sean Reardon, the study's author and a consultant in TransUnion's analytics and decisioning services business unit.

CNBC | 02/03

This story published in CPA Letter Daily on 02/03/2010

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