Lenders Write Off More Credit Card Debt

As job losses continued to mount, more and more consumers fell behind on their payments in November, Moody's Investor's Services reported Tuesday. Moody's Credit Card Index showed the charge-off rate on U.S. credit cards rose to 10.56%, up from October's charge rate of 10.04%. This reverses the recent downward trend in the charge-off rate, which had fallen in September and October.