Capital One says charge offs rose in August
Capital One Financial said that the amount of bad credit card debt that was 90 days or more behind, and was now considered irretrievable, rose slightly in August for the first time in four months, Reuters reported. After falling to 8.13 percent in July, the total number of write offs jumped back to 8.19 percent the next month.However, Capital One's total rate of delinquency - accounts that are 30 days or more behind - slipped once again last month, to 4.56 from 4.66 percent in July, the report said. The company's figures are typically the first to come out every month, and may serve as an indicator of how those for the rest of the industry will look.
An increase in write offs may show that more Americans who have had trouble paying their bills in the past haven't seen any improvement in their financial situation.
