tag:blogger.com,1999:blog-1391459843364109343.post3111813677826922188..comments2024-01-08T04:25:00.059-08:00Comments on CommonCensus: Consumer debt average falls in 2011 – An insight into the phenomenonNuWire Investorhttp://www.blogger.com/profile/02512928198926080436noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1391459843364109343.post-56635447926372098302012-02-06T12:50:26.859-08:002012-02-06T12:50:26.859-08:00Perhaps charge offs are down. That doesn't mea...Perhaps charge offs are down. That doesn't mean they don't still meet or exceed the amount by which total consumer debt is dropping. And of course charge offs necessarily reduce the total amount of consumer debt that is measured in the statistic. Meanwhile, the only areas of consumer debt that are growing are auto loans (mainly government backed GM subprime) and government backed student loans. <br /><br />If you're having trouble with your debt you need my book "Debt Hope: Down and Dirty Survival Strategies."Mark S. Hankinshttp://www.myhopeseries.comnoreply@blogger.comtag:blogger.com,1999:blog-1391459843364109343.post-57279443079081263332012-01-30T14:59:02.435-08:002012-01-30T14:59:02.435-08:00Americans deserve a lot of credit for the discipli...Americans deserve a lot of credit for the discipline and persistence they've showed in reducing debt following the Lehman collapse. And they're still very much at it. The latest figures we have show that credit card delinquencies in the U.S. are at an all-time low - only 2.91% of all open accounts are past due by 30 days or more. Charge-offs have also fallen greatly from the post-crisis highs and will keep falling at least through 2012 and possibly through part of 2013. Read this for a more detailed analysis: <a href="http://blog.unibulmerchantservices.com/late-payments-on-credit-cards-hit-an-all-time-low-in-the-u-s" rel="nofollow">http://blog.unibulmerchantservices.com/late-payments-on-credit-cards-hit-an-all-time-low-in-the-u-s</a>. So let me repeat what I said: Americans have been doing a great job of deleveraging (not that it says much, but we are certainly doing much better than the Europeans) and deserve a lot of credit for it.DDhttps://www.blogger.com/profile/16684005034980806641noreply@blogger.com