Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
.@CFPB proposes mtg rule changes 2 facilitate responsible lending by small creditors, esp. in rural/underserved areas.http://t.co/sn6PnlS0EB
37 minutes ago
#NewsNow Apple Pay interest booming at CUs, Western Union joins http://t.co/LsaoOYzAPx
2 hours ago
#creditunions, members share #databreach stories with media http://t.co/hGsnpkov8R
2 hours ago
.@CUCB #Creditunion #CherryBlossom Run registration transfer period is 2/1 - 2/28. Read more here: http://t.co/wup6XPWtcC 2of2
3 hours ago
.@CUCB CU Cherry Blossom Run organizers say accepted runners who can't race can transfer registratrion to runners who didn't get in. 1of2
3 hours ago