Latest Posts
Home > Debt Relief Industry > Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies.
Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies.

Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies.

Another month has passed and the Federal Reserve has updated their latest stats. As predicted, the level of consumer debt fell in February at an annual rate of 3.4 percent.

Unsecured debt has been the bread and butter of debt relief, debt settlement, and credit counseling companies and while the population grows and unsecured shrinks it puts significantly more pressure on the demand for debt settlement, credit counseling, and even bankruptcy.

Consumers did however continue to load up on student loans and auto loans. There is no stopping that train.

It is predicted that unsecured consumer debt will continue to decline unless lenders suddenly increase their subprime marketing and/or consumers begin to feel more confident about the future and begin to engage in unconscious spending. Neither of those options seems imminent.

At the current level, outstanding revolving credit card debt is off in the number of dollars outstanding by 17 percent but when you add in the growth of the population since the 2008 high, the actual falloff per capita or household must be near the 20 percent level.

Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies.
Get Out of Debt Guy – Twitter, G+, Facebook

I can always use your help. If you have a tip or information you want to share, you can get it to me confidentially if you click here.

Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies. by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.