Economy

Report Breaks Down Collections Data By State, County

The 46% of Louisianans who have a debt in collection represent the highest percentage of any state in the country, according to a report issued by The Urban Institute. Following Louisiana are Texas (44%) and South Carolina (43%). By contrast, Minnesota (17%), South Dakota (18%), and North Dakota (19%) are …

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Average American Carrying $15K in Credit Card Debt: NerdWallet

The average American has more than $15,000 in credit card debt, according to data released yesterday by NerdWallet. Including mortgages, the average household has more than $131,000 of debt. Spending more than they can afford on unnecessary purchases is the top reason why people have credit card debt, according to …

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Consumer Credit Jumps More Than Expected In October: Report

The amount of outstanding consumer credit in the United States jumped more than expected in October, according to data released yesterday by the Federal Reserve Board. The total amount of revolving (namely credit cards) and non-revolving (namely auto and student loans) credit increased 6.5% in October from September, or $19 …

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Average Debt in 13 States Exceeds Median Income: Report

Excluding their mortgages, individuals in 13 states owe more than they make in a year, according to data released by PeerFinance101. On average, the amount of debt individuals are carrying represents 91% of the median income in their state. The states where the amount of average debt exceeds the media …

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Delinquency Rates Remain Low, Likely To Stay That Way: Beige Book

Loan delinquency rates remained low and created little cause for concern according to anecdotal reports from the 12 different Federal Reserve Banks across the country. The banks submitted their information to the Federal Reserve Board, which published the subjective reports as part of its regularly scheduled Beige Book. While some …

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