Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Study Debt stress increased as subprime crisis unfolded
MADISON, Wis. (9/25/08)--Consumer debt stress increased from 2006 to 2007 as the subprime mortgage crisis unfolded, and those with the lowest household incomes are likely to endure the highest levels of debt-related stress, according to a new study by the Filene Research Institute. Consumer Debt Stress and Credit Cards, by Filene Executive Director and CEO Mark Meyer, explores debt-related stress with a focus on credit card debt. The study is based on information from Ohio State University’s Consumer Finance Monthly (CFM) survey. The CFM indicated that consumers in top stress categories who worry about overall debt Rose to 16.2% in 2007 from 14.7% in 2006. Consumers with lower household incomes experienced more debt stress than those with higher incomes. Those with prior bankruptcy filings also reported higher levels of debt-related stress, according to the study. Since 2005, the Center for Human Resource Research at Ohio State University has collected CFM data through monthly 25-minute telephone surveys using random-digit dialing and statistical weighting procedures. For more information, use the link.
Other Resources

RSS print
News Now LiveWire
The Hill reports frmr Rep. Barney Frank will defend Dodd-Frank Act tomorrow at House Fin Serv hearing on impact 4 yrs after enactment.
21 minutes ago
.@pressrepublican lauds @DannemoraFCU for shred fest: 'truly important in this era of identity theft' http://t.co/hnJUBO1iSR
33 minutes ago
Consumers stashing #cash in checking accounts: Moebs #NewsNow http://t.co/WPaPkzHufK
1 hours ago
.@CUANYtweets hiking the Hill today with young #creditunion professionals http://t.co/9xgH2Aw2OM
1 hours ago
.@CUSocialGood, @CafeGive partnership to measure Return on Intent for social, community efforts See #NewsNow http://t.co/LfpUes76KG
1 hours ago