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November 3, 2008 - 8:44am

Genesee and Orleans counties rate worst in Western NY in late debt payments

posted by Philip Anselmo in genesee county, Buffalo News, finance, Orleans County.

Downstate may lead the pack in late payments on credit cards and mortgages, but Genesee and Orleans counties reign king this side of the Catskills, according to the Buffalo News. From that article:

According to data from TransUnion, compiled and released this month by the Federal Reserve Bank of New York, 2.04 percent of credit card loans are at least 60 days late in payments in Orleans County. That’s the most in the eight-county region, and the seventh-highest late-payment rate in the state.

Niagara and Erie counties both come in second for the region, although Erie is below the average. Genesee County doesn't show up there, but in late payments on mortgages, we lead the pack.

For mortgage loans, Genesee County has the highest pace locally, at 1.84 percent of its loans that are at least 90 days late, followed by Allegany at 1.69 percent. Erie’s was much lower, at 1.41 percent.

Have you felt the credit crunch? All told, two percent doesn't seem too terrible.

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