Consumer borrowing increased by the largest amount in more than three years in July. According to the Federal Reserve, credit increased to $12 billion from $11.3 billion in June. This is the tenth consecutive monthly increase and represents the largest gain since April 2008.
Why is this important?
Because there is a direct correlation between the amount of credit issued and the available supply of charged-off credit card debt. As the amount of credit used rises, so does the amount of charged-off receivables.
This should ensure a steady supply of inventory for Ropay and our investors to purchase for the foreseeable future.
Do Good and Make Money!