Timeshare Rentals Show Another Pocket of Consumer-Debt Weakness
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Americans are missing more payments on their timeshare rentals, according to Fitch Ratings, the latest sign of weakness around the edges of U.S. consumer credit.
About 3.75 percent of timeshare borrowers were behind on their bills in the fourth quarter, up from 3.37 percent in the same period a year earlier, and the highest level since the end of 2011, according to a Fitch report Thursday that looked at contracts that had been bundled into bonds. The weakness is evidence of companies becoming looser with financing to customers, Fitch said.