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Our Subscribers Say...
I think Credit Today is fantastic. You cover many practical topics in the credit field that I use regularly. Just one recent example—a conversation on the ListServ about preferential payments—gave me tips that I used in an actual case. The specific information I picked up from this one discussion saved me $10,000, enough to cover my membership for many years!
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Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
Credit Today's Resource Directory and their online e-mail forum (ListServ) provide information on almost any credit-related topic you can think of. It is a great way to exchange information with other credit professionals. As the saying goes, "You don't know what you don't know."
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Credit Manager, Big Lots Stores, Inc., Wholesale Division
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The Credit Today ListServ has become the pre-imminent online forum, providing an opportunity for discussion and comments (and occasional humor) from an impressive list of credit professionals."
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Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Corporate Credit Manager-World Wide
Thales Navigation, Inc.
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Corporate Credit Mgr
Fulton Paper Company
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PRESS RELEASE: U.S. Consumer Credit at Risk of Default Increased Over 25 Percent in February
April 14, 2009
NEWS RELEASE
For Immediate Release # # # Kaulkin Ginsberg Calculates U.S. Consumer Credit at Risk of Default Increased Over 25 Percent in February ROCKVILLE, MD: April 14, 2009 -- The amount of U.S. consumer credit at risk of default jumped to $24.53 billion in February -- representing a 25 percent increase from the $19.55 billion estimated in January, according to Kaulkin Ginsberg, the leading strategic advisor to the debt collection / accounts receivable management industry (ARM). "The amount of consumer credit at risk of default has been rising steadily with the deteriorating economy," said Dimitri Michaud, Kaulkin Ginsberg Consumer Finance Analyst. "The February '09 total of $24.53 billion in consumer credit at risk is $13.3 billion more than the corresponding amount of risk from February of last year -- that's an increase of over 118 percent year-over-year." This sharp rise in potential default was due to increases in both consumer bankruptcy filings and in adult unemployment levels from the prior month, factors that are weighted in Kaulkin Ginsberg's calculations.
Although many factors play a role in what eventually leads to default, employment and bankruptcy rates show a decided cause and effect. Unemployment and "underemployment" numbers have a direct consequence on consumer liquidity, but they also represent a gauge of potential bankruptcy. In turn, bankruptcy filings have a direct impact on debt collection. Kaulkin Ginsberg publishes two proprietary indices to track consumer liquidity. The Consumer Default Risk Index (CDRI) provides a monthly barometer of how bankruptcy and unemployment levels are likely to impact debt collection and is used to calculate the dollar amount of consumer credit at risk. The Credit Card Performance Index (CCPI) is a monthly index tracking the performance of securitized credit card receivables for the ten largest credit card master trusts in the United States. For more information, visit:
www.insidearm.com/go/research/consumer-finance-report Contact
Dimitri Michaud, Analyst
Kaulkin Ginsberg
240-499-3840
dmichaud@kaulkin.com
About Kaulkin Ginsberg
Kaulkin Ginsberg is the leading boardroom-level advisor to the Accounts Receivable Management Industry (ARM). Since 1991, credit and collection professionals, owners, and investors worldwide have relied on the company for the insight, access and information needed to make well-informed decisions. Consulting and M&A services cover almost every stage of a company's lifecycle, from strategic analysis to growth and exit strategies. Kaulkin Ginsberg's media division -- publisher of insideARM.com -- is the leader in providing timely news and perspective on the recovery of debt in all industries. For more information, visit www.kaulkin.com.
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Outlook 2012
This month's survey explores...
- What the top problems are facing credit execs currently, and
- What the top improvement initiatives are.
Click here to participate!
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