4 ms·
As you say, they found a racial, not socioeconomic, difference in debt lifecycles. That's why it's racial.
by superuser2 11y ago
As you say, they found a racial, not socioeconomic, difference in debt lifecycles. That's why it's racial.
- VanillaLime 11y agoOne paragraph later, they also propose that the disparity is likely because black families have less accumulated household wealth and so are more likely to end up in delinquency than white borrowers of the same income. Like a lot of racial disparities, it doesn't come down to explicit racism by companies or debt collectors, just by a confluence of societal factors that leave minorities in a more precarious financial position.