The stock market may have been shaky in July, but consumer credit was solid.

Analysts at Standard & Poor’s Ratings Services, New York, discuss consumer repayment behavior in a monthly report based on credit default data from Experian Information Solutions Inc., Costa Mesa, Calif.

Country Financial, Bloomington, Ill., recently reported that the percentage of U.S. adults who are very confident ability their ability to pay their bills has fallen to 43% this month, from 45% in August 2010.

But S&P says the actual composite index consumer default rate fell to 2.06% in July, from 3.42% in July 2010.

Defaults on auto loans and bank cards fell slightly.

Default rates fell to 1.93%, from 3.24%, for first mortgages, and to 1.25%, from 2.77%, for second mortgages.

- Allison Bell

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