Quoting data from Transunion the Wall Street Journal is reporting that 106 million loans have been enrolled in forbearance, deferment or some other relief since March 1; this data is current as of the end of May; leading the way is student loans with 79 million accounts seeking relief, this is up from just 18 million a month earlier; auto loans doubled to 7.3 million and personal loans also doubled to 1.3 million accounts; there isn’t one uniform way to report these accounts as the relief takes many different forms and lenders are having a difficult time determining if a loan applicant’s credit score reflects their true level of risk; Transunion recently began selling new data on which consumers are in deferment and how long they have been in that status. The Wall Street Journal
