Latest Federal Reserve Statistics on Consumer Debt Show...Rising Figures?

BestCredit.net responds to greater need for information. The new website section breaks down all of the different loan products available in the consumer-lending marketplace and offers specific information about the structure of each, as well as the related terms of credit.

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Orlando, Florida (PRWEB) April 03, 2014

According to the latest, 4th quarter 2013 figures from the Federal Reserve Bank of New York on consumer debt and spending, Americans now owe a collective debt of nearly $12 trillion dollars in loans, mortgages, and credit cards. Household debt rose sharply by $241 billion from the previous quarter, making it the biggest jump, (quarter over quarter) since the third quarter of 2007. Student loan debt alone rose a staggering 11.5 percent. “This quarter is the first time since before the Great Recession that household debt has increased over its year-ago levels suggesting that after a long period of deleveraging, households are borrowing again,” said Wilbert van der Klaauw, senior vice president and economist at the New York Fed, http://www.newyorkfed.org/newsevents/news/research/2014/rp140218.html.

Additional Loan Information

Through its newly created loan section, BestCredit.net offers statistical information involving many areas of credit and lending focusing on loans, mortgages and credit cards utilized by Americans every day.

The new loan section, designed to educate and inform consumers about the many credit opportunities available for people with all ranges of credit scores, highlights options for individuals with challenging credit situations as well. The new section further works to educate consumers about the pros and cons of bad credit loans, http://www.bestcredit.net/Discussions-on-Loan-Types-for-Homes-College-Cars-and-Goods/Bad-Credit-Loans-and-Easy-Instant-Payday-Loans-Online-Pros-and-Cons.php, and offers solid solutions to this niche of borrowers for rebuilding credit to get the best interest rates available. The site further explores the different mortgage loans offered and eligibility requirements for FHA home loans backed by the U.S. government, http://www.bestcredit.net/Discussions-on-Loan-Types-for-Homes-College-Cars-and-Goods/Requirements-of-FHA-Loan-Products-Including-Limits-and-Down-Payment.php. For more information, visit, http://www.BestCredit.net.


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