Americans are making good progress paying back their debts

It was another good quarter for Americans repaying their debts.

The percentage of people who are delinquent on their debts — meaning they are 30 days or more overdue — hit 1.73% in the first quarter of 2018, up from 1.64% in the fourth quarter last year, but still below the 15-year average of 2.14%.

That’s according to the American Bankers Association, a banking industry trade group. The ABA tracks debt categories including bank-issued credit cards, home equity loans, auto loans and personal loans.

More households have solid budget management, the ABA said. For the first time since early 2012, delinquencies fell in all eight loan categories in the fourth quarter of last year, helped by more than 10 million jobs being filled over the past four years, it added.

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