February 2010   |   Issue 19 Blog
Credit Cornerstone Weekly Credit Trends and Data Intelligence
Consumers continue to reduce
outstanding debt

February 18, 2010

A recent study by Experian and Oliver Wyman found that consumers are taking on less debt, as evidenced by market declines in outstanding and newly originated balances. Specifically, from Q2 2008 to Q2 2009, the data reflected a 13 percent decline in overall open loans and a 3 percent decline in outstanding balances. Additionally, consumer demand for new credit has declined and remains sluggish.

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Source: "Understanding changes in consumer credit supply and demand," An Experian white paper.

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