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 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 sell services to consumers with unsecured debt, new data out from TransUnion says demand for debt relief services should remain relatively flat. “The credit card delinquency rate (the ratio of borrowers 90 days or more delinquent on their general purpose credit cards) remained steady at 1.19% in Q2 2015. 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 …
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 …
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 …
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 …