Tag Archives: Consumer Debt

Debt is something we all have to come to terms with, whether it’s the $20 you owe to a friend or a mortgage, it all adds up and can be a drain on not just your finances, but the whole economy.  In ...

Total household debt decreased for the first time since 2014 in Q2, including the steepest decline in credit card balances seen in the history of the data. In its Quarterly Report on Household Debt and Credit, The Federal Reserve Bank of ...

Here’s what a report by the CFPB revealed about the debt collection practices of various lenders and how it plans to address these issues through a Notice of Proposed Rulemaking.

The Bureau of Consumer Financial Protection (formerly the Consumer Financial Protection Bureau) has released a new Complaint Snapshot, exploring consumer complaints regarding modern debt-collection practices. The Bureau has received approximately 400,500 debt collection complaints since July 2011, amounting to 27 ...

Mortgage debt makes up a noticeably smaller share of total consumer debt than it did a decade ago, according to the latest Equifax National Consumer Credit Trends Report, covering data for March 2018. According to the Equifax report, mortgage debt ...

The authors of the report found that 96 million American renters have never had a mortgage—and 42 percent of them have some other type of consumer debt in collections.

In 2014, mortgage debt was the third-highest form of debt among consumers, with 28 percent holding some form of housing-related debt, the report showed. The highest percentage of consumers have mortgage debt in their late 30s through their early 60s. For borrowers with mortgages, debt balances averaged $160,000 in 2014, up from $150,000 in 2010.

Debt-holding patterns reported by borrowers and those reported by lenders seem to agree more than one would expect, according to a study released by the Federal Reserve Bank of New York on Monday.