It seems all of the major Q1 indicators are flooding the information market, and it can be tough sorting it all out.  There is some room for celebration!

Celebrate with Debt collection attorneys in florida

From our perspective, as debt collection attorneys in Florida, we are seeing the same type behavior that is being reported in the media.

1.  Overall credit card purchasing is DOWN.  We are incredibly glad to hear that.

2.  Mortgage Debt is UP, up by $116 by $116 Billion.   Does this mean that consumers are back in the mortgage business, and this is good for the economy, or does it mean we are growing a new bubble.  Our bet is on a recovering economy.

3.  Student Loan Balances are up by $31 Billion.   We see student loan debt as a double edged sword.   Our youth must be educated in order for our country, and the individuals in it, to be prosperous.  We are, however, saddling our students with an astronomical amount of debt, that will with certainty impact our economy, perhaps for generations to come, negatively.

4.   Auto loans debt is up $12 Billion.   Once again, we have to ask, is this nothing more than thirst coming out of recession for cool stuff.. or are we experiencing true and sustainable industry growth.  We are opting on the side of good for the industry.  From a Debt Collection Professionals’ perspective, Auto loans are secured, in the event of default, ultimately the car can be repossessed.. Student Loans never die.  We are far more concerned over the growth of Student Loans, than car loans.

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