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

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

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

2014 Projections Show a Bad Year for Debt Relief Companies

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 … Read more

Want to See Why Debt Relief is Dying Right Now?

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 … Read more

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

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 … Read more

Consumer Credit Card Delinquencies Fall to Lowest Level Since 1990

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 … Read more

Federal Reserve Data Out Yesterday Still Shows Student Loan Concerns

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 … Read more