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Consumer Debt Up in October But More Behind the Numbers

By on December 9, 2011
Consumer Debt Up in October But More Behind the Numbers

The November Federal Reserve G19 report is out with the latest reported G19 figures. The report indicates a 0.6 percent increase in revolving consumer debt and a 5.3 percent increase in non-revolving consumer debt in October.

If we look at the revolving consumer debt numbers, the increase was dues to increases in finance companies, and pools of securitized assets.

Non-revolving debt includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations.

While consumers loaded up on more debt in October, the fact a majority of it was non-revolving debt is not a major benefit to debt relief companies.

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About 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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