Posted on Thursday, March 1st, 2012 at 3:43 pm
Tuesday, the Federal Reserve Bank of New York released their “Quarterly Report on Household Debt and Credit.” The report outlines the level of credit consumers face today and the realities of debt collection.
According to the report, consumer debt in the U.S. is decreasing. However, the report also notes that delinquencies on debt have increased. Accordingly, the current rate of Americans pursued by third party debt collectors is the second-highest ever at 14.29 percent. The rate has only been higher at 14.38 percent in the second quarter of 2011.
In 2000, approximately 1 in every 14 consumers in the U.S. were pursued by third party debt collectors. Now, statistics show that about 1 in every 7 consumers are confronted by debt collectors. The average amount of money sought by debt collectors is $1,437–as of the fourth quarter of 2011.
If you have been harassed by a debt collector, and would like to speak with an experienced attorney about stopping this, contact the Joliet bill collector harassment attorneys of the Law Offices of Stuart B. Handelman, P.C. by calling 815-722-2201.