find where going down, is seen as going up...
----------
========
mEDITate-OR:
wonder where they are getting all that money from...
Two places, probably:
Those who have lost their jobs may be using their mortgage payment money to pay down more expensive, non-discharged credit card debts
Those who still have employment - self or with others - might be "hunkering down", and paying off more expensive credit card debts.
Since the banks/lenders are not even trying to help U.S., we might, just possibly, be helping ourselves.
Very interesting.
---------
As is THIS little quote from another article:
"Trading business information, Chiesi would say, was "like an orgasm."
-----------
jgbell -
jgbell -
Daniel, a question for you: do you know whether or not when a debtor enters bankruptcy and is discharged, does the creditor/lender write off that debt, or do they continue to list it as "delinquent"?
Also, at what point do the creditors write off these delinquent accounts as noncollectable. You see my problem with this "statistic" is that we are also being told that the "cure" rates for all of these loans is going down - drastically! For 90 days, there are, now, NO cures being seen! So, if they are NOT being cured - bcuz if they were it would support your reasoning - are they simply being "de-listed", dropped off like the unemployed.
We believe there is, and will try to find for you, a statement by the ABA that this is true.
Bcuz, if it is, there maybe three things going on here: ONE, that due to tightened loan standards, a lack of lending (such as new home equity loans) and reductions in lines of credit, the total amounts borrowed - both new and existing - are declining fast; TWO, bcuz of the rise in bankruptcies, strategic defaults and short sales, the universe of "delinquents" - the adult kind, not the childish kind - may be shrinking; and THREE, those who are left in the underwater sand states - but not underwater - AND the rest of U.S. are in fact making our payments, regularly and on time.
If these three things are occurring, it probably means that what we - you and U.S. - are really seeing is NOT what we would like to be seeing here.
===========
Credit card delinquencies fall to 8-year low
http://money.cnn.com/2010/07/07/news/economy/credit_delinquencies/index.htm
=====
Credit Card and Auto Delinquencies Declined in Q1
===========
No comments:
Post a Comment