Consumer deferrals may influence the debt payment hierarchy | Visa

Consumer deferrals may influence the debt payment hierarchy

When consumers’ paychecks are suspended, how do they pay their bills?

Historical debt payment hierarchy. See the Image Description link following the image for more details.
Chart showing three pyramids for the historical debt payment hierarchy starting with 2010, when auto, bankcard, retail and mortgage debt payments respectively were typically repaid in that order, from top to bottom, then 2017 when the hierarchy shifted to mortgage, bankcard, auto and retail payments respectively, and 2020 with mortgage, auto, bankcard and retail payments respectively.