The industry is very sensitive to the fact that delinquencies have risen over the last two years. They have already taken steps to tighten underwriting standards -- to stop solicitations to risky customers.
More Quotes from James Chessen:
Gas prices don't look like they are coming down any time soon. Today, it costs 500 more than it did last year to operate a car. That's a whole lot of money.James Chessen
Signs of financial stress still are present. The persistent interest rate increases by the Federal Reserve and record high gas prices in the third quarter provided a one-two punch that continued to inflict pain on personal budgets.
James Chessen
The full financial effect of Katrina is still unknown. It may be many months before its impact is reflected in the delinquency picture and will depend on the success of reconstruction efforts in those regions.
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With job growth strong over the last year and gas prices easing by year-end, the delinquency picture has brightened considerably.
James Chessen
My concern is many people are having financial difficulties. Personal savings rates are down. There is less of a buffer to fall back on.
James Chessen
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Based on Topics: Business & Commerce Quotes, Facts QuotesBased on Keywords: delinquencies, solicitations
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