Economy

The amount of household debt held by Americans continues to climb, but now there are more signs that they are having problems making their payments, according to data released yesterday by the Federal Reserve Bank of New York. While the total amount of household debt has been hitting a new …

A published report takes an interesting look at what it calls the “Great Affordability Crisis” in America, where the unemployment rate has fallen to record lows and wages have risen across the board, but Americans are still struggling to make ends meet. The report centers on four areas of concern …

New York might share borders with New Jersey and Connecticut but their residents do not share the same amount of financial stress, according to a website’s study of how individuals in different states searched for personal finance terms on Google, such as debt collection, debt relief, bankruptcy, and debt consolidation. …

There appears to be a generational gap in dealing with debt that is disproportionately affecting younger people in the United States. The nuances and idiosyncrasies of collecting from individuals in different generations has been something that has been addressed on multiple fronts on this website in the past, and that …

Even richer people can have a lot of debt, according to the results of a survey released by Bankrate.com. Individuals who identified themselves as having a net worth of between $100,000 and $199,999 per year were the category with the largest percentage of people who have credit card debt, according …

TransUnion is painting a “mostly sunny” picture for delinquency rates across consumer credit products in 2020, thanks to low unemployment rates, high consumer confidence, and continued economic growth. The credit bureau and analytics company is forecasting delinquency rates for auto loans, personal loans, and mortgages will be lower by the …

An interesting trend related to the number of debts placed with third-party agencies and the size of those debts continued in the third quarter, according to data released this week by the Federal Reserve Bank of New York, and may have some long-lasting impacts on how agencies work accounts for …

In yet another sign that individuals tend to be both optimistic and pessimistic at the same time, more people expect to miss a debt payment in the next three months while fewer people expect to be in a worse financial situation a year from now, according to data released yesterday …

Newton’s first law of inertia is that objects in motion tend to stay in motion and objects in inertia tend to stay in inertia. Based on data analyzed by the Consumer Financial Protection Bureau, the same can be said for individuals with credit card debt. They tend to stay in …

Some sobering economic data to jumpstart the week paints a picture of a lot of individuals who are having a difficult time making ends meet, which provides context for collection agencies reaching out to those individuals and the potential for more business on the horizon. Much has been made of …