Jae Min Lee, Yoon G. Lee, SungSook Kim - Using data from the 2013 Survey of Consumer Finances (SCF), this study examined the role of loan types, household financial characteristics, and socioeconomic characteristics in household debt delinquency. Household debt delinquency was measured by whether or not households had late loan payments during the last year or two consecutive months or more. Loan types include home mortgages, auto loans, student loans, and other loans. Household financial characteristics included liquidity ratio, debt-to-income ratio, and payday loan borrower. Socioeconomic characteristics included income, net worth, education, marital status, gender, employment status, age, and home ownership. Findings of this study will bring up a meaningful discussion and implications on how to improve the issue of household debt delinquency.
