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Debt Relief Trends

  • 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...

    • Posted December 14, 2016
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  • 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...

    • Posted November 30, 2016
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  • 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...

    • Posted August 9, 2016
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  • 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....

    • Posted May 11, 2016
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  • 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...

    • Posted November 16, 2015
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  • No Big Changes Seen in Debt Relief Sales

    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...

    • Posted August 25, 2015
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  • 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%...

    • Posted February 23, 2015
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  • Consumers Shedding Problem Debt Less and Less

    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...

    • Posted August 1, 2014
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  • Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies.

    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...

    • Posted April 8, 2014
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  • Continued Downward Pressure In Debt Relief Demand

    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...

    • Posted March 10, 2014
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  • 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...

    • Posted December 12, 2013
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  • 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...

    • Posted November 7, 2013
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  • Bankruptcy Filings Plummet in Three Years

    As further evidence about the decreased demand for debt relief help, the United States Courts have just released the latest statistics which revel the number of non-business bankruptcy filings. According to the year end September 30th data...

    • Posted October 25, 2013
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  • 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...

    • Posted August 6, 2013
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  • Bankruptcy Filings Down in June 2013

    Bankruptcy filings for the 12-month period ending June 30, 2013, fell 13 percent when compared to bankruptcy filings for the 12-month period ending June 30, 2012, according to statistics released today by the Administrative Office of the...

    • Posted August 1, 2013
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  • People Unload Wallets on Health Insurance, Education, and Kids

    Data on millions of American’s shows spending and expenses are up in a number of categories. You probably don’t need me to point that out for your own budget. The data shows spending is up significantly for...

    • Posted July 25, 2013
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  • 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...

    • Posted July 9, 2013
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  • 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...

    • Posted July 9, 2013
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  • FTC-CFPB Debt Collection Roundtable Suggestions Could Kick Credit Counseling and Debt Settlement in the Nuts

    This past week the FTC and CFPB held a joint roundtable meeting where they brought together debt collection industry participants to talk about reforms in the debt collection space. A most interesting fact came out of the...

    • Posted June 8, 2013
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  • June, 2013 G19 Release Shows Little Movement for Debt Relief Industry

    The latest G19 report is out from the Federal Reserve. Typically the debt relief industry is most interested or able to deal with revolving debt such as credit cards. The April, 2013 data just released shows revolving...

    • Posted June 8, 2013
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  • Consumers Defaulting Less on Debt Says New Data

    New data out from S*P and Experian says consumers are doing a better job paying their bills. The national composite of consumer defaults hit its post-recession low of 1.42% in April, down from 1.50% in March. The...

    • Posted May 21, 2013
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  • Banks Talk About Easing Lending – May, 2013

    The April 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices is just out and here is banks had to say about consumer lending. “Responses from domestic banks indicated that they are somewhat more willing to...

    • Posted May 7, 2013
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  • Have Consumers Really Learned a Lesson About Debt?

    A recent publication out from the Federal Reserve appears to indicate consumers have learned to cut back on debt, at least for now. The reduction might be to a number of events and not just the sudden...

    • Posted May 3, 2013
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  • Bankruptcy Filings Drop Ending March, 2013. Less Need for Debt Help.

    The latest bankruptcy filing numbers are out for the twelve month period ending March, 2013. In March there were 804,885 chapter 7 bankruptcy filings and 355,081 chapter 13 filings. For a total of 1,159,966. In comparison, in...

    • Posted April 29, 2013
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  • Debt Settlement in Canada Drying Up Quickly

    I was talking with a high ranking source in Canada inside the debt relief industry. They mentioned the number of debt settlement ads on radio and television have disappeared. The days of heavy debt settlement marketing in...

    • Posted April 17, 2013
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  • Less Need for Debt Relief Companies Shown in Census Data

    The U.S. Census Bureau released data recently which should be of concern for debt relief companies, except possibly bankruptcy attorneys. While the amount of debt is rising for consumers the makeup of that debt is changing significantly....

    • Posted March 24, 2013
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  • 2013 Outlook for Credit Counseling: A Legal and Regulatory Perspective

    As the start of 2013 is upon us, nonprofit credit counseling agencies will be trying to anticipate the needs of their communities, by knowing what to expect in the New Year. We don’t have a magic eight...

    • Posted January 16, 2013
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  • Demand for Debt Relief Help Sinks & Stinks. Lowest Levels Since 1994.

    Consumer delinquencies continued to decline in the third quarter of 2012, with bank card delinquencies falling to an 18-year low as consumers strengthen their financial base amid economic uncertainty, according to results from the American Bankers Association’s...

    • Posted January 8, 2013
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  • Demand for Debt Help Expected to Remain at Current Levels Through 2013

    TransUnion is has released their forward looking statement on credit card delinquencies. If their analysis holds, demand for debt relief services should remain at current levels with no jump in sight. Although the forecasts are trending upwards...

    • Posted December 12, 2012
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  • Bankruptcy Filings Down in 2012. Continued Bad News for Debt Relief Industry.

    The latest statistics out from the United States Courts show that bankruptcy filings are dropping. That’s good news for consumers and bad news for companies that sell debt relief services. According to filing data, the number of...

    • Posted November 7, 2012
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  • The Myth: American’s Have Learned to Avoid Debt

    So much of what you hear about the recent economic trends of people learning grand lessons about avoiding debt, are just not true. While the level of unsecured consumer debt has decreased over these past four years,...

    • Posted October 29, 2012
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  • Consumer Debt Default Rates Continue Downward Decline

    Data through September 2012, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that most loan types saw a decrease...

    • Posted October 16, 2012
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  • July, 2012 Debt Levels Ugly for Debt Relief Industry. Tea Leaves Telling Story.

    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...

    • Posted October 2, 2012
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  • Debt Relief Industry Not the Only Ones in the Income Toilet

    I saw this graph on the newspaper advertising business and it reminded me of what a graph of the debt relief business revenue would look like. Since the start of the economic crisis the demand and need...

    • Posted September 17, 2012
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  • Revolving Debt Falls Again in July. Increasing Obligations a Major Concern.

    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...

    • Posted September 10, 2012
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  • Not Passing Out Credit Like Water Holds Back Economic Recovery

    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,...

    • Posted August 20, 2012
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  • Credit Card Data Out. Good News, Bad News for Debt Relief Providers

    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...

    • Posted August 14, 2012
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  • Consumers Pull Back on Revolving Credit in June

    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...

    • Posted August 7, 2012
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  • Bankruptcy Filings Drop Again. Not Good News for Debt Relief Industry

    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...

    • Posted August 3, 2012
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  • 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...

    • Posted July 24, 2012
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  • You’re Getting Poorer. Why Debt is the Least of Your Concerns.

    New government data out from the Federal Reserve in their triannual survey of American families paints a bleak and dark picture of the state of finances of all of us. It’s no wonder why people are looking...

    • Posted June 12, 2012
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  • New Government Figures Show Unsecured Debt Dropping

    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...

    • Posted June 8, 2012
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  • Credit Card Delinquency Rates Continue Decline

    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%...

    • Posted May 16, 2012
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  • Consumer Credit Default Rates Drop in March 2012

    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...

    • Posted April 18, 2012
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  • Unsecured Consumer Debt Still Dropping

    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...

    • Posted April 9, 2012
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  • Slow Spring Predicted for Debt Relief 2012

    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...

    • Posted March 12, 2012
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  • Consumer Delinquent Debt Falls in Q4 2011 But Slows. See Detailed Charts.

    The Federal Reserve Bank of New York has just released their latest study on household debt and credit. Aggregate consumer debt fell $126 billion to $11.53 trillion in the fourth quarter of 2011. This represents a 1.1...

    • Posted February 27, 2012
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  • Credit Card Delinquencies Fall by End of 2011

    The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) reached 0.78% in the fourth quarter of 2011, a drop of almost 5% from the same period one year ago and...

    • Posted February 22, 2012
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  • How Can Credit Counseling Survive These Numbers?

    A reader asked me to take another look at trending in the credit counseling industry. Shocking sight. I’m afraid things are not looking up. If the trend of years past was still relevant we would expect to...

    • Posted January 30, 2012
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  • My Debt Relief Industry Forecast for 2012

    At the start of a new year I always like to look forward and contemplate what the debt relief industry is going to look like in the next twelve months. I believe 2012 will be another year...

    • Posted January 8, 2012
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