CHICAGO, Dec. 10 /PRNewswire/ — TransUnion.com released today the results of its analysis of trends in the credit card lending industry for the third quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data that may be found on TransUnion’s Web site.StatisticsAverage bankcard borrower debt (defined as the total bankcard debt per bankcard borrower) increased nationally 1.57 percent to $5,710 from the previous quarter’s $5,621, and 6.0 percent compared to the third quarter of 2007 ($5,387). The highest state average bankcard debt was in Alaska at $7,827, followed by Nevada at $6,636 and Tennessee at $6,568. The lowest average bankcard debt was found in Iowa ($4,277), followed by North Dakota ($4,403) and West Virginia ($4,517). Bankcard debt is the total balance of bank issued credit cards for an individual consumer.The steepest increases in average bankcard debt over the previous quarter occurred in Wyoming (4.96 percent), Delaware (4.12 percent) and Arizona (3.12 percent). Maine experienced the largest drop in its average credit card debt (-1.4 percent), followed by North Dakota (-1.12 percent) and Alaska (-0.57 percent).Nationally, the ratio of bankcard borrowers delinquent on one or more of their bankcards increased to 1.09 percent in the third quarter of 2008, up 4.8 percent over the previous quarter. However, on a year-over-year basis the national delinquency incidence rate has risen 5.8 percent from 1.03 percent in the third quarter of 2007. Incidence of delinquency was highest in Nevada (1.79 percent), followed closely by Florida (1.45 percent) and Mississippi (1.45 percent). The lowest bank card delinquency incidence rates were found in North Dakota (0.70 percent), Vermont (0.70 percent) and Utah (0.76 percent). On a positive note, four states showed a decline in their quarter-over-quarter delinquency incidence rates. Wyoming’s delinquency rate dropped the most (-9.1 percent), followed by Alaska (-6.7 percent), Nebraska (-4.5 percent), and Maine (-1.1 percent).Analysis”As expected, bankcard delinquency is again on the rise after experiencing two consecutive quarters of decline,” said Ezra Becker, principal consultant in TransUnion’s financial services group. “Although financial institutions have been undertaking proactive measures to mitigate risk in their portfolios, the continued deterioration in the financial and labor markets is having a negative impact on the ability of consumers to repay their debt obligations. Those consumers with high mortgage debt (expensive first- and second mortgages with adjustable rates and /or home equity lines of credit) may opt to utilize whatever cash reserves are available to keep their houses rather than pay off any debt on the credit card obligations.”In addition, the third quarter of 2008 saw a drop in the nation’s disposable income per capita and an increase in unemployment, putting additional burden on the consumer’s ability to repay credit card debt. However, the significant drop in energy prices that accelerated in September may have mitigated the increase in delinquency, as the diminishing demand for crude oil started to show at the local gas pump,” added Becker.ForecastTransUnion’s forecasting models for the national 90-day delinquency rate suggest a possible flattening or minimal increase in the fourth quarter of this year as consumers take stock of the recent bad economic news and curtail their expenditures for the holiday season – at least relative to prior years. However, as economic conditions worsen and consumer confidence continues to deteriorate due to the ongoing economic crises, we see an upward trajectory in the national credit card delinquency rate for 2009 – reaching as high as 1.3 percent or 1.4 percent by year end.As for state projections, Nevada (1.78 percent) is still anticipated to experience the highest average delinquency rate by the end of 2008, while North Dakota and Vermont are expected to show the lowest level of delinquency (0.69 percent).TransUnion’s Trend Data databaseThe source of the underlying data used for this analysis is TransUnion’s Trend Data, a one-of-a-kind database consisting of 27 million anonymous consumer records randomly sampled every quarter from TransUnion’s national consumer credit database. Each record contains more than 200 credit variables that illustrate consumer credit usage and performance. Since 1992, TransUnion has been aggregating this information at the county, Metropolitan Statistical Area (MSA), state and national levels.About TransUnionAs a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs more than 3,600 employees in more than 25 countries on five continents. www.transunion.com(link is external)
The Environment Agency yesterday announced the official opening of new flood defenses in Rugeley, Staffordshire.Members of the Environment Agency, Cannock Chase District Council, the Stoke-on-Trent and Staffordshire Local Enterprise Partnership (LEP), Rugeley Town Council, Staffordshire County Council and the Trent Regional Flood & Coastal Committee were yesterday in the town to celebrate completion of the project.The Rugeley flood scheme will help to reduce the risk of flooding from the Rising Brook for 114 residential and 159 commercial properties. It also forms an integral part of Cannock Chase District Council’s plans to regenerate parts of the town center, reported the Environment Agency.Work on this £5.2 million project, which started in December 2016, saw construction of a 350m long embankment, which is 4m high at its highest point, on Hagley playing fields.This embankment has created a flood storage area which will store water from the Rising Brook during times of heavy rainfall and then slowly release it back into the watercourse when levels no longer pose a flood risk.
FFWPU USA: Dr. Ki Hoon Kim, Continental Chair of the Family Federation for World Peace and Unification (FFWPU) North America, shared a message at the New Jersey Family Church in Clifton, New Jersey on Sunday, March 22, 2015. He expressed some of True Mother’s recent words and elaborated on the responsibility we have before God at this time in history. Dr. Kim’s full message is below.When I met with Pastor Manoj Jacob at the Cheongpyeong Heaven and Earth Training Center in Korea during the recent Cheon Il Guk Leaders Assembly, I told him that I would like to stop by the New Jersey Family Church soon. It’s usually my first stop after I meet with True Parents in Las Vegas or Hawaii; I like to stop by New Jersey Family Church first. I’m very happy to see all the family members and young people, and we had a nice breakfast meeting with some of the married young adults. I remember many of your parents from when I was the regional leader here in New Jersey in 1990.On the very last day before I left Korea, True Mother invited me to meet at the Cheon Jeong Gung Museum, and she asked me, “Are you struggling?” I said, “No.”“How about America, is it suffering?” she asked. I was very silent; of course, my answer to True Mother was “no.” True Mother said, “Your answer, ‘No,’ to me means, ‘Yes.’” True Mother knows everything, all the struggles we have. I often think about True Parents’ situation, and when True Mother mentioned that we are sometimes up and down with struggles, she asked me to look at her directly and to see her confident smile. She seemed to be saying that her smile, in the midst of difficulties, is the answer to our suffering.The Example of Our True ParentsI always try to learn from True Father and True Mother. Even though they are under pressure, like the time when True Father had to go to Danbury in 1984, he encouraged us. He asked us not to cry for him, but to pray for America as God’s chosen nation. True Father was very clear. He understood that America is not just represented in its 238 years of history, but represents the last 2,000 years of God’s providence for restoration. We call this country God’s nation, and although Korea is referred to as God’s fatherland, True Father came to this country over 40 years ago with the commitment to save this country as God’s chosen nation.Do you know about True Father being asked by Jesus at age 16 to carry out his mission? Jesus explained to him that True Father was Jesus’ successor to save this world, something that Jesus tried to do 2,000 years ago. Although he could not succeed, he could not give up his mission and kept his commitment until he appeared to True Father. He then asked True Father to complete what he tried to do in his 33 years of life. Following this commission, True Father began his own individual indemnity course until 1960, after which, with True Mother as True Parents, he fully established the second coming of the Messiah.What is the best way to attend our Heavenly Parent, Jesus and True Parents? One time Jesus was asked by a Jewish leader, “Which is the most important of all the Commandments?” Jesus replied, “Love your God with all of your heart and all of your soul and all of your mind. This is the first and greatest commandment.” So my question is, what does your “whole heart” mean? How can we love our Heavenly Parent and True Parents? The answer is, we pray every day and do Hoon Dok Hwe (scripture reading). This is the best way to attend our Heavenly Parent and True Parents. Read More