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Consumers in Debt Starting to Default a Bit More

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Data through December 2014, released by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, continued to show an increase in default rates. The national composite posted a default rate of 1.11% in December, up four basis points from November 2014. The first mortgage default rate rose ... Read More »

    Pay Off Debt A Growing Canadian and U.S. Concern

    Pay Off Debt searches in Canada

    According to a HuffPo article, it seems our friends in Canada are beginning to worry a bit more about their personal debt levels. Data by Google shows the search term Pay Off Debt has been trending for Canadian searchers. From the looks of the chart though it is an on again, off again interest for Canadians who have hit a ... Read More »

      The Explosion of Student Loan Debt in Pretty Pictures. OMG!

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      For those dealing with paying for education using student loans here are a couple of excellent charts put together by a Raleigh neighbor and brainiac Doug Short. As you can see, the explosion or pole vault of college cost and the rocket like trajectory of federal loans to students don’t paint a rosy picture for the affordability of a higher ... Read More »

        People Unload Wallets on Health Insurance, Education, and Kids

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        Data on millions of American’s shows spending and expenses are up in a number of categories. You probably don’t need me to point that out for your own budget. The data shows spending is up significantly for health care, education costs, and expenses for our dear (sweet?) children. 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 »

            The Myth: American’s Have Learned to Avoid Debt

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            So much of what you hear about the recent economic trends of people learning grand lessons about avoiding debt, are just not true. While the level of unsecured consumer debt has decreased over these past four years, it’s not as if that was some grand American consumer awakening. No, that was the result of poor economic times and a lack ... Read More »

              Not Passing Out Credit Like Water Holds Back Economic Recovery

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              A new report out today from the Federal Reserve Bank of San Francisco makes a conclusion is apparently obvious to those of familiar with how the consumer debt relief world works, without a flood of available credit, consumers are not going to drive the economy forward. “A key ingredient of an economic recovery is a pickup in household spending supported ... Read More »

                You’re Getting Poorer. Why Debt is the Least of Your Concerns.

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                New government data out from the Federal Reserve in their triannual survey of American families paints a bleak and dark picture of the state of finances of all of us. It’s no wonder why people are looking for less debt help these days. It seems they are financially down and out like they haven’t been in a couple of decades. ... Read More »

                  New Government Figures Show Unsecured Debt Dropping

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                  The latest Federal Reserve statistics are out for April, 2012 which show consumer credit increased at an annual rate of 3 percent in April. Revolving credit decreased at an annual rate of 4-3/4 percent, while nonrevolving credit increased at an annual rate of 7 percent. This is not good news for debt relief providers that typically only address unsecured debt ... Read More »

                    Debt Advice and Debt Help Less Needed Survey Shows

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                    A survey by Bankrate.com that was conducted at the beginning of February, 2012, which found people are feeling more confident about their financial standing. That’s good news for a rebounding economy. Bad news for debt advice providers. The most shocking figure for me, in a positive way, was that more than 70 percent report having more in savings than credit ... Read More »

                      Economic Birth Control : Steady Decline In Births Since Start Of Recession

                      A new study out by The Pew Research Center shows a correlation between a decline in the economy and birth rates. Apparently since 2008 there has been a sharp decline in not only our economy but also fertility rates in the United States. In 2007 the United States hit 4,316,233 births, a record high number, but since that time the ... Read More »

                        Brits Urged to Deal With Their Debts. Pay Off Credit Cards to Help Economy.

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                        In a somewhat follow-up bit of news to my article yesterday, Should We Eliminate Consumer Debt For Everyone and Start the Economy Over the British Prime Minister David Cameron was scheduled to tell UK citizens “The only way out of a debt crisis is to deal with your debts. That means households – all of us – paying off the ... Read More »

                          Should We Eliminate Consumer Debt For Everyone and Start the Economy Over

                          Randy steps forward with a solution to fix the desperate financial state everyone finds themselves in. The town gets behind him and everyone starts to live a life that no longer depends on any economy at all. Meanwhile an unlikely savior makes the ultimate sacrifice to solve everyones problems.

                          As crazy as this idea sounds, one thought floating around right now is that of forgiving large tracts of consumer and mortgage debt to swiftly deal with the debt problem in the country today so we can get consumption back on track. As long as consumers are buried in debt, and they are, with little growth there is no “little ... Read More »

                            Would it Be Better For Banks to Lend With More Care or Lend With Abandon?

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                            I was reading It’s Official: You Can’t Blame Banks For Not Lending Anymore and the statement was made: There’s also the possibility that, while there is less of a demand for new debt, banks are also on the brink of tightening lending standards again, worried about new capital requirements from the Fed and Basel III. That could slow down the ... Read More »

                              Severe Debt Scarcity Coming to US

                              Ready to Collapse

                              By Ron Robins, Founder & Analyst – Investing for the Soul If US consumers believe it difficult to borrow now, just wait! In the next few years credit conditions are likely to go back seventy years when private debt was difficult to obtain. Most Americans intuitively believe there is too much debt at every level of society. But the economic ... Read More »

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