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Podcast 124: First-Time Credit Defaulters

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Today on the Consumerism Commentary Podcast Tom Dziubek speaks with Deron Weston, Principal, U.S. Banking and Securities at Deloitte Consulting, about Deloitte’s recent survey on first-time credit defaulters. Deron explains what constitutes a “first-time defaulter” and discusses several topics relating to them such as major causes of defaulting, the bank’s overall response to the defaulters and the different products banks have been offering them to help them recover their credit rating.

Consumerism Commentary Podcast #124
Deloitte’s Survey on First-Time Credit Defaulters: S05E20 / 148

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Table of contents

Consumerism Commentary Podcast
[00:00] Introduction from Tom Dziubek
[00:38] Interview with Deron Weston
[00:50] The people sampled in this survey
[02:29] Defining a first-time defaulter
[03:12] The differences between the two Deloitte surveys
[04:02] The credit groups affected the most
[04:48] Major reasons for people defaulting
[06:09] The connection between unemployment and health care
[07:50] Customer service experiences & relationship with their banks
[11:31] Products being offered by banks to help customers improve their credit rating
[12:40] Poor response to secured credit cards
[14:03] New reports about fewer delinquencies
[16:51] End

We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.

Theme music by Mindcube.

Published or updated September 3, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 1 comment… read it below or add one }

avatar qixx ♦1,819 (Half-Dollar)

Hearing them say people are ready to switch banks but haven’t switched yet. So true. I’m right there with my checking. Looking for a new bank (@ Wells Fargo) likely will move to ING as soon as they get that remote deposit feature set up.

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