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Just Released: Cleaning Up Collections

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Abstract

Household debt balances continued their upward trend in the second quarter, with increases in mortgage, auto, and credit card balances, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed?s Center for Microeconomic Data. Student loans were roughly flat, a typical seasonal pattern in the second quarter. The Quarterly Report contains summaries of the types of information that is covered in credit reports, sourced from the New York Fed Consumer Credit Panel (CCP). The CCP is based on anonymized Equifax credit reports and is the source for the analysis provided in this post, which focuses on an area that until recently has received little attention: collections accounts.

Suggested Citation

  • Andrew F. Haughwout & Donghoon Lee & Joelle Scally & Wilbert Van der Klaauw, 2018. "Just Released: Cleaning Up Collections," Liberty Street Economics 20180814, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87271
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    File URL: https://libertystreeteconomics.newyorkfed.org/2018/08/just-released-cleaning-up-collections.html
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    More about this item

    Keywords

    household finances; credit reports; Consumer Credit Panel;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior

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