Debt Settlement USA, a leading debt settlement company, today launched The Consumer Debt Index, a new quarterly statistical analysis that measures the degree to which American consumers are suffering under an increasing burden of credit card, car payment, mortgage, and other debt.
In the first quarter of 2008, the Consumer Debt Index (CDI) stood at 11.76 – up an astounding 22 percent over the second quarter of 2007 when it was 9.60. The CDI is calculated based on a combination of the Consumer Price Index, consumer credit outstandings, mortgage delinquency rate, and unsecured consumer loan delinquency rate.
Since the second quarter of 2007, each CDI component has increased, and in some cases dramatically. For example, the mortgage delinquency rate soared by 67.7 percent and the consumer loan delinquency rate increased by 18.6 percent. The level of outstanding consumer debt rose 4 percent and the Consumer Price Index grew from 2.08 to 2.12, or about 2 percent.
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