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Q: Consumer Installment Debt ( Answered,   1 Comment )
Question  
Subject: Consumer Installment Debt
Category: Business and Money > Finance
Asked by: pedrokelly-ga
List Price: $15.00
Posted: 02 Aug 2005 10:53 PDT
Expires: 01 Sep 2005 10:53 PDT
Question ID: 550868
A list of the changes made in the consumer installment debt from 1975-
the present.  And when they were made.

Request for Question Clarification by omnivorous-ga on 02 Aug 2005 10:57 PDT
PK --

Are you seeking changes in the definition of "consumer installment
debt;" changes in the laws governing installment debt; or a look at
the levels of installment debt for a number of years (numbers)
reported by the Federal Reserve?

Best regards,

Omnivorous-GA

Clarification of Question by pedrokelly-ga on 02 Aug 2005 14:10 PDT
I'm looking for numbers and dates from 1975 to the present as reported
by the Federal Reserve.
Thanks
Answer  
Subject: Re: Consumer Installment Debt
Answered By: omnivorous-ga on 02 Aug 2005 16:29 PDT
 
Pedrokelly ?

The Federal Reserve bank releases data on consumer installment debt
every month (on the 5th).  It breaks it into 2 categories ?
1. Revolving debt, most short- and intermediate-term credit extended
to individuals, excluding loans secured by real estate.
2. Non-revolving loans,  which includes automobile loans and all other
loans not included in revolving credit, such as loans for mobile
homes, education, boats, trailers, or vacations.

It appears that a combination of the two ? and excluding real estate
loans ? comes closest to your definition of installment debt. 
According to Federal Reserve data in the 2005 Statistical Abstract of
the U.S., about 20% of household debt is in these non-real estate
loans, with 80% being real estate loans:

U.S. Census Bureau
?Statistical Abstract of the U.S.? (see table 1170, ?Percent
Distribution of Debt Held by Families?)
http://www.census.gov/prod/2002pubs/01statab/banking.pdf




DATE	                 TOTAL (in billions of dollars)

Jan 75                    198,898.00
Feb 75                    197,376.00
Mar 75                    195,912.00
Apr 75                    196,480.00
May 75                    197,568.00
Jun 75                    195,933.00
Jul 75                    197,475.00
Aug 75                    199,486.00
Sep 75                    201,183.00
Oct 75                    202,212.00
Nov 75                    203,088.00
Dec 75                    206,996.00
Jan 76                    205,253.00
Feb 76                    204,359.00
Mar 76                    204,908.00
Apr 76                    208,062.00
May 76                    210,104.00
Jun 76                    213,148.00
Jul 76                    215,198.00
Aug 76                    217,901.00
Sep 76                    220,688.00
Oct 76                    222,894.00
Nov 76                    224,659.00
Dec 76                    228,961.00
Jan 77                    226,168.22
Feb 77                    226,553.78
Mar 77                    229,155.00
Apr 77                    233,200.59
May 77                    237,449.41
Jun 77                    242,048.00
Jul 77                    245,053.96
Aug 77                    249,556.91
Sep 77                    252,953.00
Oct 77                    256,803.68
Nov 77                    260,233.32
Dec 77                    264,892.00
Jan 78                    263,358.83
Feb 78                    263,563.17
Mar 78                    266,971.00
Apr 78                    271,526.97
May 78                    277,368.03
Jun 78                    284,526.00
Jul 78                    288,081.53
Aug 78                    293,864.07
Sep 78                    298,022.00
Oct 78                    300,297.28
Nov 78                    304,403.72
Dec 78                    311,305.00
Jan 79                    310,777.61
Feb 79                    311,137.39
Mar 79                    313,819.00
Apr 79                    318,058.26
May 79                    322,879.74
Jun 79                    327,319.00
Jul 79                    330,907.49
Aug 79                    336,780.98
Sep 79                    341,528.00
Oct 79                    344,783.50
Nov 79                    348,140.50
Dec 79                    354,616.00
Jan 80                    351,688.33
Feb 80                    350,501.67
Mar 80                    349,662.00
Apr 80                    348,281.57
May 80                    346,131.43
Jun 80                    345,637.00
Jul 80                    345,774.57
Aug 80                    348,458.13
Sep 80                    350,336.00
Oct 80                    351,112.64
Nov 80                    351,627.36
Dec 80                    358,044.00
Jan 81                    354,348.91
Feb 81                    352,160.09
Mar 81                    353,902.00
Apr 81                    356,139.46
May 81                    358,594.54
Jun 81                    361,610.00
Jul 81                    363,366.80
Aug 81                    366,109.61
Sep 81                    371,928.00
Oct 81                    371,958.79
Nov 81                    373,220.21
Dec 81                    377,882.00
Jan 82                    376,550.40
Feb 82                    373,490.60
Mar 82                    373,537.00
Apr 82                    375,487.96
May 82                    377,725.04
Jun 82                    380,887.00
Jul 82                    381,269.51
Aug 82                    383,893.02
Sep 82                    386,815.00
Oct 82                    386,569.76
Nov 82                    388,232.24
Dec 82                    396,718.00
Jan 83                    393,112.41
Feb 83                    389,172.59
Mar 83                    391,910.00
Apr 83                    394,954.23
May 83                    397,243.77
Jun 83                    403,838.00
Jul 83                    408,476.37
Aug 83                    415,140.74
Sep 83                    420,612.00
Oct 83                    425,607.13
Nov 83                    431,677.87
Dec 83                    444,878.00
Jan 84                    443,239.69
Feb 84                    447,987.31
Mar 84                    452,010.00
Apr 84                    458,024.21
May 84                    469,333.79
Jun 84                    479,799.00
Jul 84                    486,171.12
Aug 84                    495,457.24
Sep 84                    501,839.00
Oct 84                    506,995.52
Nov 84                    512,429.48
Dec 84                    526,584.00
Jan 85                    525,411.77
Feb 85                    527,911.23
Mar 85                    536,023.00
Apr 85                    544,414.06
May 85                    552,305.94
Jun 85                    559,592.00
Jul 85                    566,478.50
Aug 85                    574,847.00
Sep 85                    585,905.00
Oct 85                    591,073.10
Nov 85                    597,287.90
Dec 85                    610,574.00
Jan 86                    607,368.98
Feb 86                    605,807.02
Mar 86                    606,799.00
Apr 86                    614,366.85
May 86                    621,915.15
Jun 86                    627,891.00
Jul 86                    633,608.32
Aug 86                    640,512.63
Sep 86                    649,888.00
Oct 86                    656,736.01
Nov 86                    656,897.99
Dec 86                    666,355.00
Jan 87                    655,328.12
Feb 87                    648,077.88
Mar 87                    644,317.00
Apr 87                    651,113.60
May 87                    654,392.40
Jun 87                    660,313.00
Jul 87                    665,708.18
Aug 87                    673,739.37
Sep 87                    679,637.00
Oct 87                    683,710.08
Nov 87                    687,817.92
Dec 87                    698,640.00
Jan 88                    695,234.75
Feb 88                    692,510.25
Mar 88                    693,732.00
Apr 88                    700,626.05
May 88                    705,427.95
Jun 88                    710,128.00
Jul 88                    713,706.52
Aug 88                    722,932.04
Sep 88                    725,838.00
Oct 88                    728,134.66
Nov 88                    732,665.34
Dec 88                    745,206.40
Jan 89                    753,009.23
Feb 89                    749,701.77
Mar 89                    753,193.00
Apr 89                    759,276.91
May 89                    764,084.09
Jun 89                    769,617.00
Jul 89                    773,195.77
Aug 89                    780,190.54
Sep 89                    784,207.00
Oct 89                    787,047.03
Nov 89                    793,165.97
Dec 89                    809,285.00
Jan 90                    802,841.79
Feb 90                    796,345.21
Mar 90                    792,320.00
Apr 90                    793,294.37
May 90                    794,021.63
Jun 90                    798,712.00
Jul 90                    803,027.08
Aug 90                    809,530.15
Sep 90                    812,302.00
Oct 90                    813,606.31
Nov 90                    816,440.69
Dec 90                    824,391.00
Jan 91                    812,742.49
Feb 91                    805,204.51
Mar 91                    802,207.00
Apr 91                    802,183.54
May 91                    801,636.46
Jun 91                    801,306.00
Jul 91                    799,429.22
Aug 91                    802,121.44
Sep 91                    802,500.00
Oct 91                    799,450.88
Nov 91                    801,146.12
Dec 91                    815,581.00
Jan 92                    805,840.16
Feb 92                    797,773.84
Mar 92                    793,353.00
Apr 92                    791,919.16
May 92                    791,232.84
Jun 92                    792,332.00
Jul 92                    792,948.01
Aug 92                    799,384.02
Sep 92                    801,933.00
Oct 92                    800,770.09
Nov 92                    805,831.91
Dec 92                    824,769.00
Jan 93                    816,413.38
Feb 93                    811,702.62
Mar 93                    807,262.00
Apr 93                    813,561.76
May 93                    812,922.24
Jun 93                    818,662.00
Jul 93                    823,982.92
Aug 93                    833,711.85
Sep 93                    842,668.00
Oct 93                    849,402.09
Nov 93                    860,159.91
Dec 93                    886,169.00
Jan 94                    879,428.20
Feb 94                    877,142.80
Mar 94                    883,876.00
Apr 94                    894,018.75
May 94                    905,182.25
Jun 94                    918,580.00
Jul 94                    925,103.00
Aug 94                    944,403.00
Sep 94                    960,135.00
Oct 94                    971,078.60
Nov 94                    985,788.40
Dec 94                   1,020,991.88
Jan 95                   1,018,178.34
Feb 95                   1,013,935.77
Mar 95                   1,024,442.23
Apr 95                   1,035,137.85
May 95                   1,048,038.23
Jun 95                   1,062,738.85
Jul 95                   1,071,391.91
Aug 95                   1,090,130.98
Sep 95                   1,110,572.72
Oct 95                   1,117,733.41
Nov 95                   1,138,240.41
Dec 95                   1,168,395.90
Jan 96                   1,158,769.37
Feb 96                   1,157,629.75
Mar 96                   1,163,440.92
Apr 96                   1,174,108.21
May 96                   1,183,401.87
Jun 96                   1,196,603.44
Jul 96                   1,208,326.96
Aug 96                   1,223,257.47
Sep 96                   1,229,818.07
Oct 96                   1,234,117.07
Nov 96                   1,245,724.76
Dec 96                   1,272,373.20
Jan 97                   1,263,491.89
Feb 97                   1,255,744.35
Mar 97                   1,252,824.13
Apr 97                   1,263,309.14
May 97                   1,268,333.24
Jun 97                   1,275,333.50
Jul 97                   1,281,134.82
Aug 97                   1,294,481.32
Sep 97                   1,303,896.96
Oct 97                   1,311,725.56
Nov 97                   1,315,681.94
Dec 97                   1,341,788.54
Jan 98                   1,328,374.36
Feb 98                   1,320,690.33
Mar 98                   1,322,674.98
Apr 98                   1,349,132.52
May 98                   1,350,841.17
Jun 98                   1,364,847.79
Jul 98                   1,370,257.84
Aug 98                   1,385,430.03
Sep 98                   1,398,626.63
Oct 98                   1,406,660.57
Nov 98                   1,412,543.44
Dec 98                   1,439,117.55
Jan 99                   1,438,505.45
Feb 99                   1,436,961.59
Mar 99                   1,439,402.26
Apr 99                   1,445,473.55
May 99                   1,456,438.28
Jun 99                   1,467,964.79
Jul 99                   1,479,456.16
Aug 99                   1,500,152.21
Sep 99                   1,510,572.17
Oct 99                   1,518,418.64
Nov 99                   1,531,023.86
Dec 99                   1,553,096.58
Jan 00                   1,551,615.07
Feb 00                   1,549,217.69
Mar 00                   1,553,436.77
Apr 00                   1,563,204.14
May 00                   1,575,656.58
Jun 00                   1,597,323.21
Jul 00                   1,611,953.33
Aug 00                   1,642,069.73
Sep 00                   1,662,667.56
Oct 00                   1,682,618.68
Nov 00                   1,700,550.01
Dec 00                   1,731,338.52
Jan 01                   1,731,254.69
Feb 01                   1,732,201.11
Mar 01                   1,732,611.49
Apr 01                   1,746,481.07
May 01                   1,754,005.77
Jun 01                   1,762,868.29
Jul 01                   1,768,653.25
Aug 01                   1,784,996.07
Sep 01                   1,795,108.14
Oct 01                   1,811,080.23
Nov 01                   1,839,442.87
Dec 01                   1,870,718.79
Jan 02                   1,861,967.39
Feb 02                   1,855,854.11
Mar 02                   1,857,555.79
Apr 02                   1,864,654.88
May 02                   1,872,927.98
Jun 02                   1,882,526.76
Jul 02                   1,889,988.46
Aug 02                   1,906,988.96
Sep 02                   1,916,377.95
Oct 02                   1,922,783.34
Nov 02                   1,930,640.11
Dec 02                   1,954,375.71
Jan 03                   1,958,016.28
Feb 03                   1,946,006.04
Mar 03                   1,933,625.02
Apr 03                   1,947,623.63
May 03                   1,961,988.72
Jun 03                   1,962,245.09
Jul 03                   1,965,605.31
Aug 03                   1,987,698.32
Sep 03                   2,003,602.12
Oct 03                   2,011,712.53
Nov 03                   2,018,035.73
Dec 03                   2,047,033.59
Jan 04                   2,047,874.97
Feb 04                   2,032,752.56
Mar 04                   2,030,002.90
Apr 04                   2,031,832.68
May 04                   2,037,648.90
Jun 04                   2,041,484.36
Jul 04                   2,048,542.90
Aug 04                   2,066,494.17
Sep 04                   2,085,808.04
Oct 04                   2,101,084.16
Nov 04                   2,109,664.57
Dec 04                   2,141,168.20
Jan 05                   2,135,257.57
Feb 05                   2,123,812.37
Mar 05                   2,117,165.40
Apr 05                   2,117,037.45
May 05                   2,114,910.60

For more details, including the splits between revolving and
non-revolving credit, you can see this report:

Federal Reserve 
?Consumer Credit ? Monthly 1943-2005?
http://www.federalreserve.gov/releases/g19/hist/cc_hist_mt.html


Google search strategy:
?federal reserve? installment debt


Best regards,

Omnivorous-GA

Clarification of Answer by omnivorous-ga on 02 Aug 2005 17:38 PDT
Pedrokelly --

Actually Myoarin made a good catch -- these numbers should be in
MILLIONS of dollars.  In other words, the 1975 number is $199 billion,
rising to $2.11 trillion in 2005.  My apologies for the error.

As the late Sen. Everett Dirksen of Illinois used to say, "A billion
here, a billion there, pretty soon it adds up to real money."

Best regards,

Omnivorous-GA
Comments  
Subject: Re: Consumer Installment Debt
From: myoarin-ga on 02 Aug 2005 17:19 PDT
 
Omniverous-ga,
" 2,114,910.60 "  "TOTAL (in billions of dollars)"   ????

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