News None of Us Want to Hear – Experts Say Recession is Coming. Buckle Up Financially.

I really try to be a facts guy. Making decisions based on data is better than just emotion. And while consumer confidence is up and things feel like the Trump agenda is keeping unemployment low and the future rosy, experts are issuing warnings. The experts could be completely wrong but unless someone has a guaranteed … Read more

Household Debt Explodes And You Don’t Need to Be Smart to Figure Out Why

The latest data is out from the Federal Reserve Bank of New York on household debt. They observed that overall household debt has substantially increased and is nearing the pre-crash peak of 2008. Consumer debt issues go in cycles. We have a crash, followed by a tightening, then slow relaxation of credit and a build … Read more

Finally – Signs of Improvement in Debt Relief Industry Business Prospects

For years now I’ve been writing about debt relief forecasts and trends pointing at a decline in the need for debt relief services. Those predictions all came true. But for the first time I’m seeing signs that there is a good chance of increasing demand for debt relief services such as credit counseling, debt settlement, … Read more

Debt Relief Companies Continue to Get Squeezed by Lending

Recent data out in the Federal Reserve Bank of New York report, Quarterly Report on Household Debt and Credit, contains a stark graph that shows why the demand for traditional debt relief service niches has not been accelerating. Traditional debt relief solutions, like credit counseling and debt settlement, have focused on the management and intervention … Read more

Consumers’ Credit Market Experiences and Expectations Deteriorate

The Federal Reserve Bank of New York today released results from its October 2016 Survey of Consumer Expectations (SCE) Credit Access Survey, which provides information on consumers’ experiences and expectations regarding credit demand and credit access. The SCE Credit Access Survey results are released every four months. The release shows a deterioration in consumers’ experiences … Read more

Bankruptcy Filings Still Showing Slowing of Debt Relief Demand

Data out today from the U.S. Courts shows that while the number of bankruptcy cases is still dropping, the decline is slowing. Bankruptcy filings are the canary in the coal mine when it comes to debt relief demand. When all forms of debt relief like credit counseling and debt settlement are up, so are the … Read more

New York Fed Data Projects More of Same for Debt Relief Companies

New data out of the New York Federal Reserve shows debt relief companies, like credit counseling, debt settlement, and bankruptcy providers should expect to see demand remain at current levels based on historical data. The Fed found: Financial Inclusion Indicators Inclusion (percent of a community that has a credit file and a credit score – … Read more

Things Looking Slowly More Possibly Potentially Hopeful for Debt Relief Industry

The following is going to be one of my wonky articles that is geared towards anyone who is interested in consumer debt, credit cards, and the debt relief industry. If that’s not your cup of tea, you’ll get really bored. The debt relief industry has long focused on helping people deal with problem unsecured debt. … Read more

Household Debt Surges, Delinquencies Drop

Household indebtedness continued to advance during the first three months of 2016 according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit, which was released today. Repayment trends also generally improved across the board, driven primarily by continuing improvements in mortgage delinquency rates. The report is based on data … Read more

A Look at Debt Relief Opportunities and Trends in May, 2016

It’s been quite some time since I wrote a debt relief industry forecast and trend article. These articles have not been all that popular because most of the people are in denial about the reality I see. You can see past articles here. In the past I used Google search volume as an indicator of … Read more

The Death of the Traditional Debt Relief Industry for Now

Recently a couple of statements from people I know inside the debt relief industry have struck me. It seems there is a general lack of understanding why it is getting harder to sell debt relief services. Some blame the Consumer Financial protection Bureau (CFPB) for cracking down and some blame me for writing about the … Read more

No Big Changes Seen in Debt Relief Sales

For debt relief companies who sell services to consumers with unsecured debt, new data out from TransUnion says demand for debt relief services should remain relatively flat. “The credit card delinquency rate (the ratio of borrowers 90 days or more delinquent on their general purpose credit cards) remained steady at 1.19% in Q2 2015. The … Read more

Potential Good News for Debt Relief Companies. Balances Increasing.

For debt relief companies who have been suffering from a lack of consumer demand, there is news out today that indicates demand might be increasing in the near-term. TransUnion says “total outstanding credit card balances increased 5% on a yearly basis. The increase indicates record growth, the highest yearly growth observed since 2008.” If this … Read more

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

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 … Read more