 TITLE: Consumer Finances Then and Now: The Great Recession vs. 2020 CONTENT: Delinquencies Show Greater Drop in 2020\n---------------------------------------\nOverall, consumers had more instances of 30-day delinquencies (late payments) in December 2007 than they did at the onset of the current recession. This is in line with the overall economic environment at that time, as part of the Great Recession included a widespread struggle to keep up with rising interest and expensive mortgage loans.\nConsumers also reduced their number of delinquencies at a higher rate in 2020 compared with the same period in 2008.\nSource: Experian END