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 make any debt relief company want to barf.
They say, “But perhaps the chart that puts it all in perspective, is the following, which shows the breakdown of total credit issued in the past year broken down between revolving (credit cards) and non-revolving (car and student loans). The latter amounts for 99% of all loans taken out in the past 12 months. It needs no additional commentary.”
I agree, I think it needs no additional commentary.
You can read the full post here.
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