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, …
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 …
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 …
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 …
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 – …
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. …
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 …
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 …
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 …
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 …