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Forecasts and Trends

Consumers Loading Up on Credit in May But Watch Out

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Yesterday I published Revolving Debt Increases in May. Is This a Good Sign? and then a reader sent me a tipster (send in your tips here) message and pointed out an article The American Consumer May Now Be Maxed Out. The article draws the conclusion that: “We contend, in our original report on this series, “Retail Sales as Echoes of ... Read More »

Revolving Debt Increases in May. Is This a Good Sign?

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The Federal Reserve G19 report is out for May and it shows an uptick in revolving consumer debt. On an annual basis the amount of outstanding unsecured consumer debt rose at a 5.1 percent annual rate. Moving up from $789.8 billion to $793.1 billion. I’ve said for a long time to watch for an uptick in G19 revolving credit as ... Read More »

Debt Relief industry Trends, June, 2011 – Credit Counseling, Debt Settlement, Bankruptcy

Credit Counseling June 2011

In what has turned into a regular report from this site, here is the next installment in my forecast for the debt relief industry. The extension of consumer credit remains weak. Delinquencies and defaults are dropping and sometimes, as Discover announced recently, to historic lows. Credit Counseling Demand Sources inside credit counseling are reporting continued declines in new debt management ... Read More »

Consumers Demonstrate Less Need for Debt Relief Services

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TransUnion just release new data which shows their Credit Risk Index (CRI) continues to decline. The CRI is a forecast tool that shows the likely chances of a consumer not being able to repay their debt. For the first quarter of 2011, the CRI came in at 123.56 – approximately 5 percent lower than the index high of 129.67 (Q4 ... Read More »

Discover Card Delinquencies Hit Record Low

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Discover Financial Services (DFS) said the proportion of its customers who are a month late on their credit card payments hit an all-time low during its second quarter, helping more than double the card company’s profit. The record low in credit-card delinquency rates, which the company said covers a 25-year period, highlights the sharp turnaround in the ability of Discover’s ... Read More »

Credit Card Charge Off Rates Continue to Fall

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Story out in Collections & Credit Risk is reporting the average consumer credit card default rate has continued it;s decline for most large issuers in May, according to Moody’s Investors Services. All of the top six credit card issuers except JPMorgan Chase & Co. on June 15 reported fewer accounts deemed uncollectible during May, and Chase’s increase was so slight ... Read More »

Fed Reports Consumer Debt Levels Rise

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The latest Federal Reserve Consumer Credit release is out and while consumer debt levels increased at an annual rate of 3 percent in the last reported month, April, the bad news is that the rise is fueled by non-revolving student loans, auto loans, etc. Revolving debt continued it’s fall but at a slower pace of an annual rate of negative ... Read More »

Credit Counseling Groups Laying Off Staff. Even the NFCC HQ Had a Recent Layoff.

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A story out today in Collections & Credit Risk highlights some of the issues facing credit counseling groups now with decreased demand by consumers. “Consumers have resolved their credit card problems to such an extent over the past year that nonprofit credit-counseling firms are noticing a significant decline in demand for their services, resulting in layoffs at some firms.” “The ... Read More »

Credit Counseling Warned About Surviving The Next Couple of Years

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I’ve been saying that the debt relief space is in a difficult spot right now. And I’ve provided warnings to all members of the debt relief community. Some have trounced me for being too “negative” in what I see just ahead. But recently Jeff Tenenbaum gave a presentation at the recent credit counseling meetings of ACCPros. Here is what he ... Read More »

Credit Counseling Requests Way Down. Funding Cut.

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A couple of articles today painted an interesting picture of the challenges credit counselors are facing and the declining demand for their services. According to the National Foundation for Credit Counseling (NFCC), the number of consumers seeking help has dropped twenty percent from 2009 to 2010. This has NFCC scratching their head especially when the CARD Act required lenders to ... Read More »

Credit Card Delinquencies Move Downward to Levels Not Seen Since 1996

TU Delinquencies

TraunsUnion has just released their latest report on credit card delinquencies. The lower the level of delinquencies, the lower the level for debt relief services since the vast majority of debt relief inquiries are stimulated by delinquent account holders. In a recent article, here, some in the debt relief community felt that the level of delinquencies was erroneous and not ... Read More »

Word on the Street on the Future of Debt Relief

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The following guest post was contributed by Angelo Anzalone of Active Debt Solutions. If you would like to contribute a guest post, click here. Success based debt Settlement, the Attorney Model, Non Profit CCC’s and DMP’s, Do it yourself kits, Debt Validation, Debt Elimination, Bankruptcy – the list of available options seems endless and although we can argue all day ... Read More »

Moody’s Releases News on Debt Relief Customer Pool

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I would love t be a blind cheerleader for the legitimate players in the debt relief world that are helping consumers and doing it the right way. The news remains worrisome though. And when I have good news to report on the forecast for debt relief services you better believe I will share it with you. In the past few ... Read More »

Federal Reserve Data Points Out Less Need for Debt Relief Providers

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In a couple of recent articles, here and here, I talked about the declining demand for debt relief services, al all types, when looking at search traffic data. Demand for debt relief services is created when lenders extend and consumers get overloaded and need to seek a remedy for the growing burden of debt. If lenders don’t extend credit there ... Read More »

Further Evidence Pool of Debt Relief Consumers is Shrinking

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TransUnion just release its latest credit card delinquency numbers showing that 90 day lates are down 32 percent, year on year. “The ratio of bank card borrowers delinquent has flattened out considerably,” says TransUnion. This furthers my hypothesis that the reason demand for debt relief services is decreasing across all the major niches of debt relief, i.e. debt settlement, credit ... Read More »

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