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Forecasts and Trends

Bankruptcy Filings Drop Again. Not Good News for Debt Relief Industry

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Bankruptcy filings have been a good indication of the overall consumer demand or need for debt relief services. As bankruptcy demand declines, so does the demand for other debt relief options such as debt settlement, and credit counseling. Data out just today shows a 14 percent drop in bankruptcy filings for the 12 month period ending June 30, 2012. For ... Read More »

Ut Oh, New Bankruptcy Estimates Out

Fitch Ratings, the global rating agency that proves banks with prospective credit opinions, research and data, is expecting a further decline in personal bankruptcy filings for 2012. That news only spells a lessened demand for other debt relief services like credit counseling and debt settlement. If consumers are not seeking protection under bankruptcy, historically, demand for the other ancillary services ... Read More »

Loan Delinquencies Fall to Lowest Points Since Recession

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[repostus hash=de6e5ba8fdd15abeda0f71dabb0ec0a8 title=Loan%20Delinquencies%20Fall%20to%20Lowest%20Points%20Since%20Recession host=Credit.com short=1hcHw] Read More »

Consumer Revolving Debt Explodes in May. What Does That Mean?

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Latest figures out show that consumer revolving credit grew in May at an annual rate of 11.25 percent. That’s a huge jump. One we have not seen in a while. But what does it really mean? Consumer credit overall grew at a rate of 8 percent. It’s far too early to tell if this is an early sign of consumer ... Read More »

New Government Figures Show Unsecured Debt Dropping

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The latest Federal Reserve statistics are out for April, 2012 which show consumer credit increased at an annual rate of 3 percent in April. Revolving credit decreased at an annual rate of 4-3/4 percent, while nonrevolving credit increased at an annual rate of 7 percent. This is not good news for debt relief providers that typically only address unsecured debt ... Read More »

Credit Card Delinquency Rates Continue Decline

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What spells good news for American consumers, spells more bad news for the debt relief industry. According to TransUnion, the national credit card delinquency rate for people more than 90 days past due has dropped to 0.73% from last quarters 0.78%. In addition the average credit card debt per borrower decreased by $242 to $4,962. While total credit card originations ... Read More »

Consumer Credit Default Rates Drop in March 2012

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Data through March 2012, released today by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults showed that, with the exception of bank card, all loan types saw a decrease in default rates for the third consecutive month. In addition, the four that did decrease posted their lowest rates ... Read More »

Unsecured Consumer Debt Still Dropping

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The latest consumer credit data has been released and as forecasted, the levels of unsecured credit card debt are still dropping. In fact if you factor in inflation, the amount of revolving consumer debt consumers are carrying today is now lower than 2010 levels. Consumer credit increased at an annual rate of 4-1/4 percent in February. Revolving credit declined at ... Read More »

A New Day is Coming for Debt Relief

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Last night I did something I haven’t done in a while, I cruised the Craigslist ads looking for the latest claims and ads offering some magical debt relief solution. In the past it has been a treasure trove of problems and offers consumers should avoid. After looking at the ads in New York, Miami, and Los Angeles, to my utter ... Read More »

Slow Spring Predicted for Debt Relief 2012

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With the clocks just adjusted for spring it’s a good time to remind all of those in the debt relief space that the traditional spring slowdown is upon us., or at least it feels like that to me. This time of year has always had a decreased demand for debt relief services. My best guess has always been that many ... Read More »

Consumer Delinquent Debt Falls in Q4 2011 But Slows. See Detailed Charts.

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The Federal Reserve Bank of New York has just released their latest study on household debt and credit. Aggregate consumer debt fell $126 billion to $11.53 trillion in the fourth quarter of 2011. This represents a 1.1 percent decrease from the $11.66 trillion reported in the prior quarter’s findings. The report also revealed further declines in real estate debt and ... Read More »

Debt Collection Industry Sees Compliance and Customer Service as Key in 2012

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I need to vent for a moment. Have I not been saying now for some time now that in the debt relief industry both compliance to rules and regulations, along with exceptional customer service is the key to moving forward? In fact in my latest article on this subject I was talking about how critical these issues are for the ... Read More »

Credit Card Delinquencies Fall by End of 2011

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The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) reached 0.78% in the fourth quarter of 2011, a drop of almost 5% from the same period one year ago and continuing well below historical norms. Not great news for debt relief providers. Average credit card debt per borrower increased $239 from the same ... Read More »

How Can Credit Counseling Survive These Numbers?

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A reader asked me to take another look at trending in the credit counseling industry. Shocking sight. I’m afraid things are not looking up. If the trend of years past was still relevant we would expect to see a big post holiday season spike in consumer interest in credit counseling. But we didn’t see on last year and as of ... Read More »

Consumers on the Brink of Loading Up on Credit. Good News for Debt Relief Companies.

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Granted, it might just a bit too early to say with some super confidence but it appears that consumers may be through shedding outstanding consumer debt. For debt relief companies looking for a bit of good news and potential growth in the next 12-24 months, we’ll need to watch this trend carefully. For debt relief services this is the first ... Read More »

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