topic Re: Consumer Debt jumps this month in Credit in the News

Consumer Debt jumps this month

omskillet — Wed, 11 Jul 2012 04:21:33 GMT

Cool chart in this article. It shows that we're back to pre "credit crisis" levels of consumer debt. Interesting note in here that over all deliquencies are falling per quarter. I swear its because there is so much more info out there for "normal" people on how to effectively use debt.

Also, this site is awesome if you're obsessed with finance. Something I could never say before 2 years ago.

http://www.thefiscaltimes.com/Blogs/Chart-of-the-Day/2012/07/10/Charge-It-Credit-Card-Debt-Jumps.aspx

Re: Consumer Debt jumps this month

drkaje — Wed, 11 Jul 2012 15:44:26 GMT

My guess is default rates are down because more people have accepted the bitter reality of how much we depend on credit.

Debt increasing doesn't surprise me. Probably means people's personal economies haven't grown much in the past 5 years.

Re: Consumer Debt jumps this month

FrugalRican — Wed, 11 Jul 2012 15:47:00 GMT

And Leon's getting laaaaaaaaaaaaaaaaaaaaaaaaaaarger.

Not surprising.

Not too many lessons were learned in 2008. I see it all too frequently, and believe it or not, even on these forums.

For many, a "rebound" also meant a license to spend again.

Re: Consumer Debt jumps this month

drkaje — Wed, 11 Jul 2012 17:35:59 GMT

I can't let an "Airplane!" reference go unappreciated. :)

Re: Consumer Debt jumps this month

algorithmslave — Wed, 19 Sep 2012 06:18:20 GMT

FrugalRican wrote:
And Leon's getting laaaaaaaaaaaaaaaaaaaaaaaaaaarger.

Not surprising.
Not too many lessons were learned in 2008. I see it all too frequently, and believe it or not, even on these forums.

For many, a "rebound" also meant a license to spend again.

Thanks for the website. I enjoyed your story!