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Forecasts and Trends

July, 2012 Debt Levels Ugly for Debt Relief Industry. Tea Leaves Telling Story.

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The Board of Governors of the Federal Reserve System announced that in July, 2012 the amount of revolving consumer debt contracted by 6.75 percent. This marks another decline in the levels of consumer debt and less demand for debt relief services. Let’s not forget that as long as consumer debt drops, the level of debt person drops exponentially as the ... Read More »

    Revolving Debt Falls Again in July. Increasing Obligations a Major Concern.

    Non-Revolving Consumer Debt 199-2011

    The latest Federal Reserve report out shows revolving credit card debt fell for the second straight month. In July, 2012 the amount of revolving debt consumers carry declined by 6.8 percent or about $5 billion. Of course the concern in the debt relief industry is that declining unsecured consumer debt means the likelihood of a slower demand for debt relief ... 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 »

        Credit Card Data Out. Good News, Bad News for Debt Relief Providers

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        TransUnion has release the latest credit card data which has both longer term good news and short term bad news for the debt relief industry. Let’s get the bad news out of the way, credit card delinquencies are down. That should quiet demand for debt relief services for at least the next year. The national credit card delinquency rate (the ... Read More »

          Consumers Pull Back on Revolving Credit in June

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          New Federal Reserve data out shows consumers decreased revolving credit debt by 5.1 percent in June 2012. However, non-revolving debt, that has student loans as a component, rose by 3 percent. Overall, outstanding revolving consumer credit dropped from $868.3 billion to $864.6 billion. The biggest pullback in issuance of revolving consumer credit came from depository institutions. Credit unions picked up ... Read More »

            Bankruptcy Filings Drop Again. Not Good News for Debt Relief Industry

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            Bankruptcy filings have been a good indication of the overall consumer demand or need for debt relief services. As bankruptcy demand declines, so does the demand for other debt relief options such as debt settlement, and credit counseling. Data out just today shows a 14 percent drop in bankruptcy filings for the 12 month period ending June 30, 2012. For ... Read More »

              Ut Oh, New Bankruptcy Estimates Out

              Fitch Ratings, the global rating agency that proves banks with prospective credit opinions, research and data, is expecting a further decline in personal bankruptcy filings for 2012. That news only spells a lessened demand for other debt relief services like credit counseling and debt settlement. If consumers are not seeking protection under bankruptcy, historically, demand for the other ancillary services ... Read More »

                Loan Delinquencies Fall to Lowest Points Since Recession

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                [repostus hash=de6e5ba8fdd15abeda0f71dabb0ec0a8 title=Loan%20Delinquencies%20Fall%20to%20Lowest%20Points%20Since%20Recession host=Credit.com short=1hcHw] Read More »

                  Consumer Revolving Debt Explodes in May. What Does That Mean?

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                  Latest figures out show that consumer revolving credit grew in May at an annual rate of 11.25 percent. That’s a huge jump. One we have not seen in a while. But what does it really mean? Consumer credit overall grew at a rate of 8 percent. It’s far too early to tell if this is an early sign of consumer ... 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 »

                      Credit Card Delinquency Rates Continue Decline

                      Ready to Collapse

                      What spells good news for American consumers, spells more bad news for the debt relief industry. According to TransUnion, the national credit card delinquency rate for people more than 90 days past due has dropped to 0.73% from last quarters 0.78%. In addition the average credit card debt per borrower decreased by $242 to $4,962. While total credit card originations ... Read More »

                        Consumer Credit Default Rates Drop in March 2012

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                        Data through March 2012, released today by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults showed that, with the exception of bank card, all loan types saw a decrease in default rates for the third consecutive month. In addition, the four that did decrease posted their lowest rates ... Read More »

                          Unsecured Consumer Debt Still Dropping

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                          The latest consumer credit data has been released and as forecasted, the levels of unsecured credit card debt are still dropping. In fact if you factor in inflation, the amount of revolving consumer debt consumers are carrying today is now lower than 2010 levels. Consumer credit increased at an annual rate of 4-1/4 percent in February. Revolving credit declined at ... Read More »

                            A New Day is Coming for Debt Relief

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                            Last night I did something I haven’t done in a while, I cruised the Craigslist ads looking for the latest claims and ads offering some magical debt relief solution. In the past it has been a treasure trove of problems and offers consumers should avoid. After looking at the ads in New York, Miami, and Los Angeles, to my utter ... Read More »

                              Slow Spring Predicted for Debt Relief 2012

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                              With the clocks just adjusted for spring it’s a good time to remind all of those in the debt relief space that the traditional spring slowdown is upon us., or at least it feels like that to me. This time of year has always had a decreased demand for debt relief services. My best guess has always been that many ... Read More »

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