Credit card debt down by 8 percent September 9, 2009
Posted by BDO in News.Tags: beating, consumer, credit, Debt, education, federal, loan, nation, reserve
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In some continued good news for the nation, the Federal Reserve released its latest findings of revolving consumer credit, better known as credit card debt. Credit card debt was down for the month of July by 8.0 percent. Overall, consumer credit was down 10.4 percent for July. That is great news because it means that we are more willing to pay off consumer credit and earn our freedom than struggle under the painful agony of debt.
These numbers should help the Consumer Debt Clock to continue to go down. How much more can we, as a nation, continue to drive the clock down?
Does this mean that our educational ads are working?
For more info on the Federal Reserve’s numbers, click here.
To add the Consumer Debt Clock to your blog/website, click here.
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Get the word out!!! Keep giving people something else to think about and consider before spending money they don’t have. Lord willing, this credit trend can continue!!!
I’m actually quite surprised that credit card debt is down during these rough times. Go all!! That’s great news.