There is a mounting probability of a looming surge in massive credit card loan delinquencies and defaults.

Citizen Watch Report ^

[davikkm]

fredblog.stlouisfed.org/2023/12/three-measures-of-us-credit-card-debt/#:~:text=In%202023%2C%20outstanding%20credit%20card,for%20consumer%20spending%20going%20forward.

From a disposable income standpoint the Fed data agrees that the consumer is better able to service their debt now than they ever have. That peaked during the stimmie checks but that gap has closed from -25% to -5% in the past 2 years. Which is not a promising trend.

Adjusting for inflation the debt is equal to pre Covid but 20% higher than post GFC.

[hinckley buzzard]

No, improvident spending is pushing people to default.

[Paul46360]

LMAO

[gloryblaze]

... it was always upfront as a retainer.

Always paid, just as I figured.

[gloryblaze]

...We all charge upfront. If more work is needed [someone objects to discharge, etc], you have to file a motion BEFORE the work is done to ask for permission from the court. If the procedure isn’t followed, no more fees can be collected.

How often does that happen, as opposed to, say, a retainer turning out to be too high because the job was very simple, so part of the retainer is refunded?