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Forecasts and Trends

Debt Settlement in Canada Drying Up Quickly

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I was talking with a high ranking source in Canada inside the debt relief industry. They mentioned the number of debt settlement ads on radio and television have disappeared. The days of heavy debt settlement marketing in Canada are gone. They also said their contacts at national creditors in Canada are reporting new debt settlement proposals have dropped by about ... Read More »

Less Need for Debt Relief Companies Shown in Census Data

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The U.S. Census Bureau released data recently which should be of concern for debt relief companies, except possibly bankruptcy attorneys. While the amount of debt is rising for consumers the makeup of that debt is changing significantly. Most importantly, the most damning statistic from the survey is the percent of household holding debt. That number has been steadily declining meaning ... Read More »

Good News and Bad News About U.S. Consumer Debt

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The census bureau has released a new report that chronicles household debt in the U.S. from 2000-2011. The good news is that fewer households are carrying some form of debt. In 2011 69 percent of households did compared to 74 percent in 2000. The bad news is that those that are carrying debt are carrying more. In 2011 dollars the ... Read More »

Bankruptcy Filings Decline in 2012

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Bankruptcy filings in the federal courts fell 13 percent in calendar year 2012, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the 12-month period ending December 31, 2012, totaled 1,221,091, down from the 1,410,653 bankruptcies filed in CY 2011. Statistics released today include business and non-business filings for the ... Read More »

2013 Outlook for Credit Counseling: A Legal and Regulatory Perspective

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As the start of 2013 is upon us, nonprofit credit counseling agencies will be trying to anticipate the needs of their communities, by knowing what to expect in the New Year. We don’t have a magic eight ball or special insight into the future, but by looking backward, we think it’s possible to help understand what’s on the legal and ... Read More »

Demand for Debt Relief Help Sinks & Stinks. Lowest Levels Since 1994.

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Consumer delinquencies continued to decline in the third quarter of 2012, with bank card delinquencies falling to an 18-year low as consumers strengthen their financial base amid economic uncertainty, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. During the third quarter, bank card delinquencies dropped to their lowest levels since 1994, falling 18 basis points to ... Read More »

Demand for Debt Help Expected to Remain at Current Levels Through 2013

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TransUnion is has released their forward looking statement on credit card delinquencies. If their analysis holds, demand for debt relief services should remain at current levels with no jump in sight. Although the forecasts are trending upwards and showing a slow loading of the future pipeline for debt relief help with balances expected to increase and more sub-prime cards being ... Read More »

Credit Card Delinquency Rates Jump Up. Balances Rise Also.

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CHICAGO, IL–(Marketwire – November 19, 2012) – The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) increased slightly to 0.75% in Q3 2012 from 0.71% in Q3 2011. This rate had been 0.63% in Q2 2012, a seasonal low. Average credit card debt per borrower also increased on a yearly basis by 4.91%, ... Read More »

Bankruptcy Filings Down in 2012. Continued Bad News for Debt Relief Industry.

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The latest statistics out from the United States Courts show that bankruptcy filings are dropping. That’s good news for consumers and bad news for companies that sell debt relief services. According to filing data, the number of non-business bankruptcy filings for the same year-on-year period ending September 30 has significantly dropped. Chapter 7 bankruptcy filling dropped from 1,036,950 to 874,337. ... Read More »

Consumer Debt Default Rates Continue Downward Decline

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Data through September 2012, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that most loan types saw a decrease in default rates, including the national composite’s ninth consecutive monthly decline. Four of the five loan types posted their lowest rate since the ... Read More »

July, 2012 Debt Levels Ugly for Debt Relief Industry. Tea Leaves Telling Story.

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The Board of Governors of the Federal Reserve System announced that in July, 2012 the amount of revolving consumer debt contracted by 6.75 percent. This marks another decline in the levels of consumer debt and less demand for debt relief services. Let’s not forget that as long as consumer debt drops, the level of debt person drops exponentially as the ... Read More »

Revolving Debt Falls Again in July. Increasing Obligations a Major Concern.

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The latest Federal Reserve report out shows revolving credit card debt fell for the second straight month. In July, 2012 the amount of revolving debt consumers carry declined by 6.8 percent or about $5 billion. Of course the concern in the debt relief industry is that declining unsecured consumer debt means the likelihood of a slower demand for debt relief ... Read More »

Not Passing Out Credit Like Water Holds Back Economic Recovery

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A new report out today from the Federal Reserve Bank of San Francisco makes a conclusion is apparently obvious to those of familiar with how the consumer debt relief world works, without a flood of available credit, consumers are not going to drive the economy forward. “A key ingredient of an economic recovery is a pickup in household spending supported ... Read More »

Credit Card Data Out. Good News, Bad News for Debt Relief Providers

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TransUnion has release the latest credit card data which has both longer term good news and short term bad news for the debt relief industry. Let’s get the bad news out of the way, credit card delinquencies are down. That should quiet demand for debt relief services for at least the next year. The national credit card delinquency rate (the ... Read More »

Consumers Pull Back on Revolving Credit in June

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New Federal Reserve data out shows consumers decreased revolving credit debt by 5.1 percent in June 2012. However, non-revolving debt, that has student loans as a component, rose by 3 percent. Overall, outstanding revolving consumer credit dropped from $868.3 billion to $864.6 billion. The biggest pullback in issuance of revolving consumer credit came from depository institutions. Credit unions picked up ... Read More »

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