Consumer Credit Lending Set to Increase
Many consumers may be in a better situation financially now than in the past couple of years, as economic conditions showed improvement recently. This may have an effect on the strengthening of the lending market, which could help a number of people better afford important investments. Those in the consumer credit lending industry are feeling more confident in the market, and this could help improve lending abilities during the rest of the year. According to a poll conducted by FICO, nearly two-thirds of industry members think there will be a higher level of credit given to consumers this year, in order to meet a heightened level of demand.
“These results say quite a bit about the psychology of borrowers and lenders,“ said Dr. Andrew Jennings, chief analytics officer at FICO and head of FICO Labs. “After years of caution, lenders are now in growth mode and feeling good about extending credit. But I find the borrower side of the equation even more intriguing. It appears that borrowers are beginning to shed the frugal habits that helped them deleverage to the tune of more than a trillion dollars since 2008.“ These conditions may signal that consumers will be able to better handle their finances as the months roll on. However, there is always a chance of an unexpected situation, or some type of financial error. If this occurs to you, it may be a good idea to consider getting some help. One way could be a decision to learn how to sell your structured settlement. This can help you get funds immediately to follow through with that investment you hoped for.
Consumer Confidence Improves in June
Another indicator of a strengthening economic and personal finance situation surfaced recently. There was a notable gain in The Conference Board’s Consumer Confidence Index, as it jumped to more than 81 from the previous level of 74.3. This wasn’t the only improvement in the report, as the indicator for current conditions, the Present Situation Index, rose to nearly 70 from May’s level of 64.8. Another indicator, the Expectations Index, which denotes what consumers think the future will be like, rose to 89.5 from the previous level of 80.6. All of these figures are considered to be in positive territory when they are higher than 50. If you or your independent advisor have any questions about how you can get cash for your structured settlement, please call DRB Capital at 877-894-4541.