Over 30% of Americans Hit with Late Fees in the Last Year, NerdWallet Report Reveals from mein over Watch Video

⏲ Duration: 0:37
👁 View: 185K times
✓ Published: 31-May-2024

Description:
Over 30% of Americans have been charged a late fee on some type of bill in the last 12 months, according to a new report by NerdWallet. The most common late fees were for credit cards, with 21% incurring at least one late fee, followed by 10% paying late fees on utility bills and 8% on rent. Late fees are just one consequence of making late payments, and missing payments by 30 days or more can negatively impact a consumer's credit report. Experts warn that being over 30 days late on payments can lead to serious consequences, including utility shutoffs and immediate actions like car repossession.