Debt Relief Industry

Latest Search Data Still Shows Falling Demand for Debt Relief Services

A look at updated search trend data still is showing an across the board decrease in consumer generated searches for debt relief services.

This post will show both historical and twelve months charts.

Debt Settlement


Credit Counseling


Debt Consolidation


Unfortunately the consumer demand for debt relief services, as gauged by proactive consumer searching continues to reflect a continued downward trend.

As projected previously, until creditors begin to issue new credit there will be a continued decline in the demand for debt relief services as the pipeline of over-indebted consumers has been cleaned out over the past 24-36 months.

Debt relief providers should anticipate marketing and acquisition costs to remain steady or increase as competition increases for the shrinking pool of consumer eligible for debt relief services.

For companies that are struggling with client acquisition this is probably a very important time to focus on cutting operating cots as much as possible to ride through this valley that I anticipate will last for at least 18 months before consumer demand increases.

The most important marker to watch will be a steady uptick in the Federal Reserve G-19 report. Currently the amount of outstanding revolving consumer debt continues to fall.

A reduction in revolving consumer debt is due to creditors writing off bad debt and the elimination of debt by consumers. The lower the level of consumer debt the less demand there is for debt relief services.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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.

READ  Potential Good News for Debt Relief Companies. Balances Increasing.



About the author

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.

148 Comments

  • Your 89 year old mother would be ashamed if she knew that you were defending a broken model designed to take the last dollar of people who are struggling to begin with. You have some pair commenting on user names knowing you were the one assisting in the scam. You’re so blinded by your greed that you missed the sarcasm in the names…hey dumbass, the names were directed at you and your husband…how do you guys sleep at night?

  • I’m no expert, but I think perhaps the millions of American families who are disqualified from filing bankruptcy right now because of the waiting period in the reform act, are pulling the numbers down. Further, because these people do not have the threat of bankruptcy to hold over their creditors, they have no real leverage in debt settlement. Where do they go? The cash economy, and the ranks of the “unbanked” maybe?

  • Nothing. I blocked two people for not being civil in their comments. Why are you using a fake email address?

Leave a Comment

Scroll to Top