While consumer sentiment appears to be gradually improving - alongside a general uptick in economic activity - demand for bad credit installment loans are still on the rise. The trend suggests Americans are still facing challenging financial conditions.
According to a report released this week by ReallyBadCreditOffers.com, installment loans for bad credit are up 40 percent heading into the new year. "2012 shows no signs of any major improvement in the U.S. economy, so the trend will likely accelerate into 2012," said loan researcher Ariel Pryor. Consumers with poor credit often find themselves in an impossible situation where they are unable to obtain a loan, especially in a high-risk environment with stringent consumer credit risk management
policies. "Responsibility when borrowing is vital as part of your financial strategy," Pryor added. "These loans should be used as part of an overall plan to save you money and rebuild." This week, the U.S. Department of Commerce revised its growth projection for the third quarter, reporting the economy grew by 1.8 percent, driven largely by weaker personal consumption than analysts had originally projected.