Posted on Wednesday, June 23, 2010
CredAbility Consumer Distress Index is a new quarterly stat tracking shifts in the average American household financial condition over time. CredAbility was f/k/a Consumer Credit Counseling Service of Greater Atlanta. The new index measrures consumers employment, housing, credit, household budget and net wrotk. Its based on a 100 point scale. 70 or lower means financial distress or instability needing action. As of the quarter ending March 2o10, the score was 64.2, the 7th consecutive quarter of distress. The service feels this is because Americans had little to fall back on when the crisis hit. Unemployment or under employment and reduced income is one common denominator for 70& of those seeking the agencies help.