Debt Relief Industry Forecasts and Trends

Fed Reports Consumer Debt Levels Rise

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 1.4 percent. The amount of revolving debt current stands at $790.1 billion.

The data shows only a small increase in revolving debt by savings institutions while credit unions remain the same and commercial banks pulled back a bit.

The chart above shows the rate of decline in outstanding consumer debt is slowing (blue) and the decrease in outstanding consumer debt is flattening out a bit (red).

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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.


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