| May 21, 2010

Study: Default rates dropping for most consumer financial instruments

The rate at which U.S. consumers are defaulting on auto loans, mortgages and other financial obligations is generally trending lower, according to the S&P/Experian Consumer Credit Default Index released on Tuesday. However, credit management still seems to be an issue, as that index actually rose.

While auto loan defaults reached 2.4 percent in March of 2010, the S&P/Experian index showed that they fell to 1.9 percent in April, and both first and second mortgages showed noticeable declines from their levels of the previous month.

According to S&P Indices index committee chairman David Blitzer, “consumer defaults continue to moderate in the key big ticket items of first and second mortgages and auto loans. In these areas, defaults bottomed out around the same time as the stock market in the first half of 2009. Bank cards on the other hand continue to worsen and are at levels not seen in the history of these indices.”

Consumers who find themselves sinking deeper into credit card debt could benefit from enrolling in credit counseling programs, as a way of avoiding possible black marks on their credit rating or even bankruptcy.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

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Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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