1 of 1
Story summary
- U.S. unsecured loans rose 10% last year to $276 billion, driven by demand from subprime borrowers.
- The number of consumers with these loans rose to 26.4 million.
- Many borrowers consolidate credit card debt into unsecured loans as interest rates decline.
- TransUnion forecasts slower growth in new credit this year, with a 4% rise in mortgages and a 1.5% decline in auto loans.
