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Tag Archives: Debt Relief Forecasts

Consumer Borrowing Up in June. Reading Tea Leaves.

Percentage Revolving Consumer Lending

The latest data from the Federal Reserve is out for June 2011. The data shows an increase in revolving consumer borrowing for primarily commercial banks. Commercial banks increased revolving consumer debt from May 579.2 billion to June 584.4 billion. Pools of securitized assets diminished between May and June from 41.8 billion to 41.5 billion. Other sectors showed growth in unsecured ... Read More »

    The Future of Credit Counseling. Shades Might Not be Required.

    Ready to Collapse

    At the recent Debt Relief Master Class I held in Raleigh, North Carolina we had the pleasure of hearing from Howard Dvorkin from Consolidated Credit Counseling Services on his view of the future of credit counseling. Howard has been in the credit counseling industry since about the early 1990s and has a very broad perspective that all debt relief providers ... Read More »

      Default Rates Continue to Fall at Credit Card Issuers

      Ready to Collapse

      Reports just out from five of the six top credit card issuers showed that default rates on accounts fell in June. Of the banks reporting, Bank of America showed the biggest reduction in default rates with Chase Bank, Discover reporting very noticeable declines. Just recently Discover said their default rate was at the lowest ever in their history. According to ... Read More »

        Consumers Loading Up on Credit in May But Watch Out

        chart

        Yesterday I published Revolving Debt Increases in May. Is This a Good Sign? and then a reader sent me a tipster (send in your tips here) message and pointed out an article The American Consumer May Now Be Maxed Out. The article draws the conclusion that: “We contend, in our original report on this series, “Retail Sales as Echoes of ... Read More »

          Revolving Debt Increases in May. Is This a Good Sign?

          DDPChart

          The Federal Reserve G19 report is out for May and it shows an uptick in revolving consumer debt. On an annual basis the amount of outstanding unsecured consumer debt rose at a 5.1 percent annual rate. Moving up from $789.8 billion to $793.1 billion. I’ve said for a long time to watch for an uptick in G19 revolving credit as ... Read More »

            Debt Relief industry Trends, June, 2011 – Credit Counseling, Debt Settlement, Bankruptcy

            Credit Counseling June 2011

            In what has turned into a regular report from this site, here is the next installment in my forecast for the debt relief industry. The extension of consumer credit remains weak. Delinquencies and defaults are dropping and sometimes, as Discover announced recently, to historic lows. Credit Counseling Demand Sources inside credit counseling are reporting continued declines in new debt management ... Read More »

              Consumers Demonstrate Less Need for Debt Relief Services

              Ready to Collapse

              TransUnion just release new data which shows their Credit Risk Index (CRI) continues to decline. The CRI is a forecast tool that shows the likely chances of a consumer not being able to repay their debt. For the first quarter of 2011, the CRI came in at 123.56 – approximately 5 percent lower than the index high of 129.67 (Q4 ... Read More »

                Fed Reports Consumer Debt Levels Rise

                DDPChart

                The latest Federal Reserve Consumer Credit release is out and while consumer debt levels increased at an annual rate of 3 percent in the last reported month, April, the bad news is that the rise is fueled by non-revolving student loans, auto loans, etc. Revolving debt continued it’s fall but at a slower pace of an annual rate of negative ... Read More »

                  Credit Counseling Warned About Surviving The Next Couple of Years

                  Ready to Collapse

                  I’ve been saying that the debt relief space is in a difficult spot right now. And I’ve provided warnings to all members of the debt relief community. Some have trounced me for being too “negative” in what I see just ahead. But recently Jeff Tenenbaum gave a presentation at the recent credit counseling meetings of ACCPros. Here is what he ... Read More »

                    Credit Counseling Requests Way Down. Funding Cut.

                    Ready to Collapse

                    A couple of articles today painted an interesting picture of the challenges credit counselors are facing and the declining demand for their services. According to the National Foundation for Credit Counseling (NFCC), the number of consumers seeking help has dropped twenty percent from 2009 to 2010. This has NFCC scratching their head especially when the CARD Act required lenders to ... Read More »

                      Credit Card Delinquencies Move Downward to Levels Not Seen Since 1996

                      TU Delinquencies

                      TraunsUnion has just released their latest report on credit card delinquencies. The lower the level of delinquencies, the lower the level for debt relief services since the vast majority of debt relief inquiries are stimulated by delinquent account holders. In a recent article, here, some in the debt relief community felt that the level of delinquencies was erroneous and not ... Read More »

                        Decline in Open Credit Card Accounts Helps to Show Why There is a Reduced Demand for Debt Relief Services

                        Open Accounts

                        A reader and tipster (send in your tips here) sent in a link that led me to the most recent Federal Reserve Bank of New York report showing the number of open credit card accounts. These are the types of accounts that are most addressed by debt relief providers. The data seems to support the statement made to me recently ... Read More »

                          Bankruptcy Filings Up Slightly. Still No Positive Signs for Debt Relief Providers.

                          bk filings

                          Bankruptcy filings for the 12-month period ending March 31, 2011, rose 2.6 percent when compared to bankruptcy filings for the 12-month period ending March 31, 2010, according to statistics released today by the Administrative Office of the U.S. Courts. March 2011 bankruptcy filings totaled 1,571,183, with 1,531,997 bankruptcy cases filed in the 12-month period ending March 31, 2010. Business and ... Read More »

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