A key indicator shows Americans’ financial stress is mounting – By Phil Rosen (Business Insider) / Jan 23, 2024
- LegalShield’s Consumer Stress Legal Index showed consumer financial stress is continuing to rise.
- It measures upticks tied to bankruptcies, foreclosures, and other money issues.
- The gauge increased for the 10th month in a row in December, reaching its highest point since November 2020.
Wall Street might have turned more optimistic to start the year, but Americans’ financial troubles continue to mount.
LegalShield on Tuesday said its Consumer Stress Legal Index rose to 66.7 in December, up by 0.4 points from the prior month, showing that US consumers’ financial stress is at its highest level since November 2020.
The gauge, which accounts for calls for assistance tied to bankruptcies, foreclosures, and other money problems like car repossessions and loan defaults, has climbed for 10 consecutive months.
