Quick Answer: Consumer inflation expectations dropped significantly in August 2022, with one-year expectations falling from 6.2% to 5.7% and three-year expectations declining from 3.2% to 2.8%. This decline suggests reduced inflationary pressure ahead, though households expect tighter credit access despite improved income optimism. The Federal Reserve Bank of New York’s Center for Microeconomic Data today …
Quick Answer: U.S. household debt reached $16.15 trillion in Q2 2022, representing a $312 billion increase and the largest quarterly jump since 2016. Credit card balances surged 13% year-over-year, marking the biggest annual increase in over 20 years as Americans increased borrowing across all categories.The Federal Reserve Bank of New York’s Center for Microeconomic Data …
Quick Answer: Debt relief regulation impacts consumers as household debt reached $14.64 trillion in Q1 2021, with credit card balances dropping $49 billion while mortgage debt rose $117 billion. Credit card balances are now $157 billion lower than 2019 levels, reducing target customers for debt settlement companies.Debt relief companies like debt settlement and credit counselors …
Quick Answer: Bankruptcy filings dropped 6.3% to 805,580 cases in the year ending September 2016, marking the lowest level since 2007. This decline signals reduced demand for debt relief services, though the slowdown in the rate of decrease suggests the economic recovery may be plateauing.Data out today from the U.S. Courts shows that while the …
Quick Answer: Debt relief industry trends in May 2016 showed declining demand across sectors, with credit card delinquency rates at just 1.47% and reduced consumer interest in debt settlement services. The overall debt relief market faced limited growth opportunities as consumers maintained relatively strong payment performance.It’s been quite some time since I wrote a debt …
Quick Answer: Google search data shows “Pay Off Debt” queries are trending upward in both Canada and the U.S., despite Canadians reaching record household debt levels of 163% of income. Paradoxically, while debt concerns are rising based on search volume, traditional U.S. debt relief companies are experiencing decreased demand for their services.According to a HuffPo …
Quick Answer: Low credit card delinquencies mean fewer consumers need debt relief services, with TransUnion reporting delinquency rates dropped to 1.16% in Q2 2014, a seven-year low. This trend negatively impacts credit counseling, debt settlement, and bankruptcy providers who rely on financially distressed consumers.According to the credit reporting agency TransUnion, credit card delinquency has hit …
Quick Answer: TransUnion’s 2014 projections show mortgage delinquencies will drop to 3.75% and credit card delinquencies will rise only to 1.66%, both remaining at historically low levels. This flat trend is bad news for debt relief companies seeking increased demand for their services.TransUnion is out with data on 2014 delinquency projections. They are showing both …
Bankruptcy filings for the 12-month period ending June 30, 2013, fell 13 percent when compared to bankruptcy filings for the 12-month period ending June 30, 2012, according to statistics released today by the Administrative Office of the U.S. Courts. June 2013 bankruptcy filings totaled 1,137,978, compared to 1,311,602 bankruptcy cases filed in the 12-month period …
Quick Answer: Consumer debt decreased among fewer households (69% in 2011 vs 74% in 2000), but debt amounts increased significantly for those carrying it, rising from $50,971 to $70,000. Older Americans aged 55-64 saw debt increase 64%, while those over 65 experienced more than doubled household debt burdens. The census bureau has released a new …
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