Consumer debt delinquency by family lifecycle categories

Abstract

Purpose: The purpose of this paper is to document debt delinquency patterns by family lifecycle categories using multiple data sets that are nationally representative of American families. Findings: The results show that among the 15 household lifecycle categories, the top three most likely to be delinquent are young couples with children aged seven or older, middle-aged singles with children aged 15 or older, and middle-aged singles with children under 15. Younger households are more financially distressed than their older counterparts. Presence of children increases the probability of debt delinquency.