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 increased at an annual rate of 7 percent. This is not good news for debt relief providers that … Read more

Federal Reserve Announces Revolving Consumer Debt Fell in September

According to the Federal Reserve, consumer credit increased at an annual rate of 1-1/2 percent in the third quarter. But revolving credit decreased at an annual rate of 3-1/4 percent, while non-revolving credit increased 3-3/4 percent. In September, consumer credit increased at an annual rate of 3-1/2 percent. The increase of non-revolving consumer debt is … Read more

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

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 … Read more

Revolving Consumer Debt Seasonally Adjusted January 2009 to January 2010

Here is a look at the decline in revolving consumer debt. But before you get all excited that the decline represents people ditching debt and managing their finances better remember that during this time a large amount of consumer debt was charged off and creditor withdrew credit lines. A new study by CardHub found that … Read more

Have Consumers Really Learned Not to Spend on Credit Cards? Nope.

I wish I could remember who I was having the conversation with a year ago about consumers will have learned a fundamental lesson about how to manage money as a result of this economic downturn we’ve faced in 2007-2010. My point was that any trend downwards in credit card spending is temporary and if consumers … Read more