According to the latest Equifax National Consumer Credit Trends Report, the total balance of write-offs for first mortgages, home equity loans and home equity lines of credit was $12.34 billion in the first quarter of 2015. This is a decrease of 32.6 percent from the first quarter of 2014. Some of this may have to do with an increase in … Read More
Consumers Owe Nearly $12 Trillion in 2014
Consumers owed $11.83 trillion as of the end of 2014, according to the Household Debt and Credit Report produced by the Federal Reserve Bank of New York. Total debt increased by $306 billion during 2014, according to the report which is based on data from the New York Fed’s Consumer Credit Panel. This could potentially lead to more people filing … Read More