Credit Managers' Index released for August, numbers continue to drop
The National Association of Credit Management, supporter of more than 15,000 financial and business credit professionals across the globe, recently released the Credit Managers' Index for August.
The National Association of Credit Management, supporter of more than 15,000 financial and business credit professionals across the globe, recently released the Credit Managers' Index for August.
The CMI fell to 52.7 for the month compared to July's posting of 53.9, and is on pace for the lowest levels since 2008 and 2009. However, the combined number has yet to fall below 50, which is the boundary between contraction and expansion.
“The most interesting aspect of the data is that extension of credit actually improved in the middle of all this gloom and doom," said Chris Kuehl, economist for the NACM. "The fact that favorable factors have improved slightly or remained stable provides some hope that conditions will improve in the coming months."
The index has not been this low since 2009, when the economic recession had just begun to show signs of improvement.
Credit is a significant contributor to the number of filings for protection under bankruptcy law in the U.S. today. Bankruptcy is considered a last resort to severe credit card debt and filing could make it more difficult to secure lines of credit moving forward.
Need Help Filing Bankrutpcy?
Complete the form below and an attorney near you will call you to discuss your options. The form only takes a few minutes to complete, so get started now!
Like this article? Please link to it using the code below:
These articles are all written by BankruptcyHome.com's great editors and contributors. If you would like to write articles for BankruptcyHome.com, please email editor[at]bankruptcyhome.com.
Related Articles
Is Bankruptcy Right For You?
If you are ready to find out if Bankruptcy can help improve your financial situation, the best place to start is our Free Case Evaluation form. Complete the form below and an attorney near you will call you to discuss your options. Bankruptcy law differs from state to state so it's important that you discuss your case with a local bankruptcy attorney. The form only takes a few minutes to complete, so get started now!