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Consumer Debt jumps this month

Regular Contributor

Consumer Debt jumps this month

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.asp...

4 REPLIES
Senior Contributor

Re: Consumer Debt jumps this month

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.


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Re: Consumer Debt jumps this month

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.

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Senior Contributor

Re: Consumer Debt jumps this month

I can't let an "Airplane!" reference go unappreciated. Smiley Happy


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New Contributor

Re: Consumer Debt jumps this month


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!

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...