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Forecasts and Trends

Potential Good News for Debt Relief Companies. Balances Increasing.

Credit Card Delinquency Rates

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 trend continues then in a ... 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 »

      Debt Relief Providers Still Crying From Low Delinquencies

      cc delinquency

      According to the credit reporting agency TransUnion, credit card delinquency has hit a seven year low. That’s good for consumer but not so good for credit counseling, debt settlement, or bankruptcy providers. The national credit card delinquency rate declined to its lowest level in at least seven years, dropping from 1.27% in Q2 2013 to 1.16% in Q2 2014. The ... Read More »

        Consumers Shedding Problem Debt Less and Less

        graph

        The latest round of bankruptcy filing numbers is out and it paints a picture many in the debt relief industry see firsthand, a decrease in demand for debt relief services. Since the debt relief industry fails to provide any specific numbers about consumer demand, the best measure we have is to use the U.S. Courts bankruptcy filing numbers as a ... Read More »

          Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies.

          Dollar Bank Note Downward Trend Arrow

          Another month has passed and the Federal Reserve has updated their latest stats. As predicted, the level of consumer debt fell in February at an annual rate of 3.4 percent. Unsecured debt has been the bread and butter of debt relief, debt settlement, and credit counseling companies and while the population grows and unsecured shrinks it puts significantly more pressure ... Read More »

            Continued Downward Pressure In Debt Relief Demand

            Mature woman confused

            The latest round of statistics is out showing what consumers are doing when it comes to debt. On the surface it appears the amount of debt is going up and that’s good news for credit counselors and debt settlement companies. A closer inspection though continues the gloom forecast for such services. While consumer debt is up, revolving debt, the bread ... Read More »

              2014 Projections Show a Bad Year for Debt Relief Companies

              209963_FINALInfographic2014CC-MortgageForecast

              TransUnion is out with data on 2014 delinquency projections. They are showing both flat delinquencies in mortgage and credit card areas. This is bad news for debt relief companies who are looking for increased demand of the services they offer. Not only is the projected trend to remain flat but at historically low levels. The national mortgage loan delinquency rate ... Read More »

                2013 Holiday Spending Set to Change Debt Relief Industry

                Searching-right

                In the debt relief industry the post-holiday period was always the busiest as those pesky holiday bills rolled in and people realized they overspent. The past recent years have been tough for debt relief companies since tough economic times had erased the big post-holiday debt relief peak we all used to know. New data is out that shows what we ... Read More »

                  Want to See Why Debt Relief is Dying Right Now?

                  Car Student Loans Oct

                  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 ... Read More »

                    Bankruptcy Filings Plummet in Three Years

                    Screen Shot 2013-10-25 at 2.10.06 PM

                    As further evidence about the decreased demand for debt relief help, the United States Courts have just released the latest statistics which revel the number of non-business bankruptcy filings. According to the year end September 30th data the number of consumer bankruptcies fell 31 percent from the same period in 2010. Current filings, for the last twelve months, were 1,072,807 ... Read More »

                      July 2013 Senior Loan Officer Survey Shows Flat Line for Debt Relief

                      Screen Shot 2013-08-06 at 12.27.34 PM

                      As an indication of future demand for debt relief services, a good place to look for clues is the Federal Reserve report on senior loan officer plans. The July 2013 survey is just out but paints a continued flat line picture offer increasing unsecured consumer loans. “Responses from domestic banks indicated that they were somewhat more willing to make consumer ... Read More »

                        Bankruptcy Filings Down in June 2013

                        United States Court

                        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 ending June 2012. This is ... Read More »

                          People Unload Wallets on Health Insurance, Education, and Kids

                          rise in expenses

                          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 »

                            Consumer Credit Card Delinquencies Fall to Lowest Level Since 1990

                            news1

                            Consumer delinquencies declined significantly in this year’s first quarter, falling in 11 out of 13 loan categories as consumers more carefully manage their finances, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. The composite ratio, which tracks delinquencies in eight closed-end installment loan categories, fell 29 basis points to 1.70 percent of all accounts in the ... Read More »

                              Federal Reserve Data Out Yesterday Still Shows Student Loan Concerns

                              DDPChart

                              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 »

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