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TransUnion's latest consumer study shows that "nearly one-quarter (22%) of all Americans—equating to an estimated 46 million adults over 18—indicated they need a future stimulus check just to get by."

"27% of all consumers report they have received a financial accommodation. Significantly more Millennials (42%) than any other generation reported having received a financial accommodation." 2/

"Small businesses also continue to struggle with a high of 16% of small business owners reporting that they have closed." 3/

"There is an uptick in consumers stating they plan to take out new credit products, and more consumers are saving additional money in emergency funds and using more of their available credit to meet their financial needs." 4/

This is alarming and this will drop your credit score really fast.

"Impacted Gen Zers report the largest jump in using more of their available credit to meet their needs (+7 pp to 16%), though impacted Millennials report a 6-point increase to 19%." 5/

"While consumers expect their spending on medical care and bills and loans to stay steady over the next 3 months, half of all Americans plan to decrease discretionary spending. Additionally, 43% of consumers say they will spend less on holiday gifts this year as an important." 6/

Among the people impacted, 52% of Boomers, 79% of Gen X, 85% of Millennials and 78% of Gen Z are worried about paying bills and loans. 7/

Here is the TransUnion survey. https://content.transunion.com/v/financial-hardship-report-us-wave-fourteen

This is an indication of how bad things are. Several retailers, Walgreen's, Shell and BP, allow consumers to pay in real-time with their credit card rewards points.

Even Amex is sending out emails touting their financial relief program. Credit card co. rarely offer to rescind late payment fees.