Consumers are listening to the debt relief and personal finance campaigns being broadcast by financial experts. This is supported by the lowered credit card debt that the country showcased in the same quarter of 2013.
Dallas, TX (PRWEB) June 22, 2013
National Debt Relief is positive that the improvements in the overall debt payment behavior of consumers can be attributed to proper debt management skills. This statement was made as a reaction to the release by the Associated Press. The article was about the report from TransUnion regarding the decline in both credit card debt and delinquencies in most areas in the country. With over 27 million consumer records being handled by TransUnion, these figures are as near accurate as it can be.
The TransUnion report shows that credit card delinquencies have dropped to 0.69 percent from January to March of 2013. Compared to the same period in 2012, it dropped 0.16 percent from 0.85. This is also lower than the previous quarter (October to December 2012) which came from 0.73 percent. These figures are lifted from the Associated Press article “Average credit card debt, late payments fall in Q1” that was published on May 21, 2013 in their Big Story website. The same news is also published on the same date in a CBS News Article entitled “Average credit card debt, late payments fall.”
The Better Business Bureau (BBB) accredited company believes that the somehow, the efforts of debt relief companies should be taken into account when discussing the cause of all these decline in debt. Legitimate and sincere companies like National Debt Relief who advocate for debt education should continue doing so as evidence show that consumers are wising up with debt payments.
The fact that it is lower than 2012, this means consumers are listening to the debt relief and personal finance campaigns being broadcast by financial experts. This is supported by the lowered credit card debt that the country showcased in the same quarter of 2013.
The AP report figures from TransUnion that show the average credit card debt is down by 1.7% compared to the first trimester of 2012. From $4,962, the average debt per consumer is now $4,878. From the last quarter of 2012, it went down 4.8% from $5,122. This is quite an accomplishment in the first quarter of 2013 considering the slow yet steady economic recovery in the country.
Another proof that consumers are practicing proper financial management is the fact that there is a decline in new credit card accounts. Though the data is only until 2012, comparing the last quarter of 2011 and 2012, the latter enjoyed a 1.6 percent fall in terms of new accounts compared to records from the former period.
All of these data fuels National Debt Relief’s advocacy when it comes to debt education and the use of debt relief to achieve freedom from credit card obligations.
To know more about how the company can help, visit their website or call 888-703-4948.