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Tag Archives: Debt Relief Forecasts

2014 Projections Show a Bad Year for Debt Relief Companies

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TransUnion is out with data on 2014 delinquency projections. They are showing both flat delinquencies in mortgage and credit card areas. This is bad news for debt relief companies who are looking for increased demand of the services they offer. Not only is the projected trend to remain flat but at historically low levels. The national mortgage loan delinquency rate ... Read More »

Want to See Why Debt Relief is Dying Right Now?

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For years now I’ve been warning debt relief companies to expect less demand for services until consumers began to load up on credit again. The pipeline of unsecured debt being issued is really dry and the vast majority of consumers who needed help have already worked their way through the pipeline. But this information out today in Zero Hedge will ... Read More »

July 2013 Senior Loan Officer Survey Shows Flat Line for Debt Relief

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As an indication of future demand for debt relief services, a good place to look for clues is the Federal Reserve report on senior loan officer plans. The July 2013 survey is just out but paints a continued flat line picture offer increasing unsecured consumer loans. “Responses from domestic banks indicated that they were somewhat more willing to make consumer ... Read More »

Consumer Credit Card Delinquencies Fall to Lowest Level Since 1990

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Consumer delinquencies declined significantly in this year’s first quarter, falling in 11 out of 13 loan categories as consumers more carefully manage their finances, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. The composite ratio, which tracks delinquencies in eight closed-end installment loan categories, fell 29 basis points to 1.70 percent of all accounts in the ... Read More »

Federal Reserve Data Out Yesterday Still Shows Student Loan Concerns

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Yesterday the Federal Reserve released the latest data on consumer borrowing. It’s been interesting watching all the media reports about what it means. Some say the big percentage rise in revolving debt is an indication about consumer confidence, and it might be. But it’s not unusual to see a summer spike in charging as vacations ensue. What is more concerning ... Read More »

FTC-CFPB Debt Collection Roundtable Suggestions Could Kick Credit Counseling and Debt Settlement in the Nuts

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This past week the FTC and CFPB held a joint roundtable meeting where they brought together debt collection industry participants to talk about reforms in the debt collection space. A most interesting fact came out of the meeting, that the non-appearence rate among consumers being sued for debt is about 90%. That doesn’t surprise me. What does surprise me is ... Read More »

June, 2013 G19 Release Shows Little Movement for Debt Relief Industry

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The latest G19 report is out from the Federal Reserve. Typically the debt relief industry is most interested or able to deal with revolving debt such as credit cards. The April, 2013 data just released shows revolving consumer debt rose at an annual rate of 1 percent while nonrevolving consumer debt rose at 6.4 percent. Nonrevolving debt includes automobile loans ... Read More »

Consumers Defaulting Less on Debt Says New Data

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New data out from S*P and Experian says consumers are doing a better job paying their bills. The national composite of consumer defaults hit its post-recession low of 1.42% in April, down from 1.50% in March. The first mortgage default rate moved down to 1.31% in April from 1.41% in March. The auto loan default rate posted a 1.07% rate ... Read More »

Banks Talk About Easing Lending – May, 2013

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The April 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices is just out and here is banks had to say about consumer lending. “Responses from domestic banks indicated that they are somewhat more willing to make consumer installment loans now as opposed to three months ago. However, only a small net fraction of banks reported having eased standards ... Read More »

Have Consumers Really Learned a Lesson About Debt?

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A recent publication out from the Federal Reserve appears to indicate consumers have learned to cut back on debt, at least for now. The reduction might be to a number of events and not just the sudden realization that too much debt is problematic. For example, people may be feeling less confident about the future and that’s driving their spending. ... 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 »

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 »

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 »

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