Credit Companies Report Delinquency Rates Declines

It was announced this week that a handful of major credit card issuers in the United States that in the month of March ended with wither lower charge-off and delinquency rates in their credit portfolios.

Delinquency rates are the percentage of loans within a loan portfolio that have delinquent payments, and are generally related to unemployment rates.

Medical accounts receivable specialists understand the importance of collecting past-due bills and managing delinquent payments, since not only do they affect the creditor, the affect they borrower in negative way. They can mark their credit scores and their ability to get future loans or mortgages.

Bank of America, Capital One, Citigroup, Discover, and JP Morgan Chase are five large banks to make up the large majority of credit card accounts in the United States.  In fact, Bank of American reported credit losses have dropped to the lowest rate since 2007. However, the average overall delinquency rate is below a long-term average as a result of stricter lending principles and standards for credit card accounts that major banks have implemented since the credit crisis and recession. The rate last march was exactly a full percentage lower than March 2011.

To learn more about medical accounts receivable services visit this healthcare collections training specialist homepage.