Nationwide-www.news10now.com - Americans are falling behind on their credit card payments at an alarming rate, resulting in a surge of delinquencies and defaults.  Experts say deteriorating finances are partly a byproduct of the subprime mortgage crisis.

An analysis of financial data from the country's largest card issuers found a growing number of accounts are more than 90 days overdue.  Until recently, credit card default rates had been running close to record lows.  Many economists expect delinquency and defaults to rise further after the holidy shopping season.

If you have too much debt, make it a personal resolution to start improving your situation in 2008.  Getting a real estate loan or a auto loan in the future is going to require that you have less debt overall.  Older guidelines of 25% mortgage payment to income and 35% total debt payment to income are likely to come back into vogue, with much less opportunity for subprime loans

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