- ► 2008 (159)
- ► 2007 (204)
- Truck Tonnage Rates Worst Since Last Recession
- Dental Care
- Did You Loose Contact with Your Supplier This Week...
- Retailers Now Believe in Santa Claus
- Wikipedia Founder to Speak at Capella University
- Buzz Begins for Rowlings Final Book Distribution
- Xbox 360-The Warranty that Keeps on Giving is Exte...
- A Golden Mention for Our Sponsor
- Distributing People for the Holidays
- Pacific BulletProof Company Serving up Accessories...
- When a F5 strikes Your Business
- Causes of Excess Inventory
- TNT India Strays from the Pack
- Chartplotting Devices for Marine Vessels
- TourSolver Version 4 Launched by Magellan
- Carrier Transicold on Par with Refrigerated Traile...
- Collectible Swords
- Logistics Company Prosecuted For Wire Fraud and Ta...
- Take Me to InternTown
- Geico releases 'Teens and Trucks
- Johnson & Johnson subsidiary halts trial due to tr...
- Microsoft Increases Distributors to Drop a Distrib...
- Belisi Fashions Product Line Marketing Efforts
- Arrow Electronics Purchases InTechnology Distribut...
- Corporate Train Wreck on You Tube or end of Zany M...
- Bill Amelio Spreading Lenovo Love
- Barbie fights off Bratz Industrial Espionage
- UK Consumers Wising Up about Credit-What Happens i...
- Web Marketing 2.0
- Will Kohl's and JC Penney's Chase Target and Wal-M...
- Language lessons and Translation Services for Busi...
- Dick's Sporting Goods Expands Plainfield Distribut...
- Direct Marketing Solutions
- Golden State Buys Distribution Center to Grow McDo...
- Great Source for Truck Accessories
- Merger Planners Failed to Plan for Departure of Cu...
- To Ease or Not to Ease, Not an Easy Question
- Epocrates Continues to Push Distribution of Online...
- Quick Run Down of Movie Distribution Services via ...
- Making Solar Energy Sheets by the FootBall Field
- ▼ December (40)
UK consumers are shrinking their debt burdens but not by paying off their bills. They are taking advantage of laws established to help people avoid bankruptcy.
It allows debtors to pay as little as 25% of their monthly bill. If the creditors that hold 75% of their debt agreed to a debt reduction as well, then the remaining debtors holding the other 25% must follow suit.
So United Kingdoms are reducing their debt through forgiveness. In the United States the outgoing Republican controlled Congress passed tougher bankruptcy laws just over a year ago. US consumers are still racking up the debt quickly, but they do not have the UK style of programs to get out of debt.
The real estate market is dropping in multiple areas of the country but not in all, energy prices are still high even though they are off their peaks. A US consumer backlash against their debt could spell trouble not only for banks but for the economy as well. If consumers lose spending power from their credit card after a repeal of the bankruptcy legislation, businesses stand to lose as much as the banks might lose.
However, losing a a lot of money to reorganizing consumer debt, might be the lessor of two evils faced with mass defaults by borrowers if the real estate decline gets worse approaching something along the lines of the real estate bust of the early 80's say. Several industries have been bailed out over recent years from energy to airlines, the US might be confronted with the need for a consumer debt bail out before the decade is out.