Younger people have made more progress at getting past recession-era debt trouble than older Americans, according to a study.

Older households – the Fed used 40 years old as the dividing line – have a debt level that is still higher than it was pre-recession and pre-housing crisis, according to a study by the St. Louis Federal Reserve released this week.

The delinquency rate for younger people is typically higher in both good times and bad, but the Fed found that they have made more progress than older Americans have since the recession.

Delinquencies for those over 40 represent 8.4 percent of their total debt, compared to 7.6 percent of the total back in 2005.

In contrast, the delinquency rate for younger households is better now than it was in 2005: 8.9 percent of their total debt now versus 10.2 percent then.

Obverall delinquencies peaked in early 2010 as a frightening 12.5 percent of total debt before starting to decline. By early this year, delinquent debt has dipped to 8.5 percent of the total, which is only a little higher than the ratio was pre-housing crisis in 2005.

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