NOTE: THIS DATA FILE WILL CHANGE! To improve accessibility of data for all users, we will convert this file from a text format to an html table by the end of June 2024. Title: CredAbility Consumer Distress Index for Michigan (DISCONTINUED) Series ID: CCDIOAMIQ156N Source: CredAbility Nonprofit Credit Counseling & Education Release: CredAbility Consumer Distress Index (Not a Press Release) Seasonal Adjustment: Not Seasonally Adjusted Frequency: Quarterly Units: Percent Date Range: 1980-01-01 to 2013-01-01 Last Updated: 2013-05-17 1:19 PM CDT Notes: Overview of the Index The Index is a quarterly comprehensive picture of the average American household’s financial condition. Built by assessing the key elements of financial health and distress, it converts a complex set of factors into a single, easy to understand number. Scope and History The index measures the U.S., all 50 states and more than 70 MSAs. The national and state versions date back to 1980 and the MSA versions date back to 1990. Public Data and Proprietary Methodology We use more than 65 data points from government, public and private data and a proprietary methodology for compiling, combining and evaluating data. With nearly 50 years of experience and insight into helping consumers in financial distress, we know the biggest causes of distress, how people react to financial challenges and proven strategies for regaining control. (Note: Our client data is not a data source for the Index) Measured on a 100 Point Scale Financial distress is measured on a 100 point scale and a score under 70 indicates financial distress. The lower the score equals more distress, a weaker financial position, more urgency to act, takes longer and is harder to resolve, and increases the probability of needing a third party help to resolve. The Index score is tied to one of 5 general rating categories, which reflect the strength and stability of the consumer’s position. Less than 60 Emergency / Crisis 60 – 69 Distressed / Unstable 70 – 79 Weakening / At-Risk 80 – 89 Good / Stable 90 and Above Excellent / Secure What Does the Index Measure? We measure the 5 categories of personal finance that reflect or lead to a secure, stable financial life—Employment, Housing, Credit, Household Budget and Net Worth. All are equally important, so have given each category equal weighting. Employment. Stable income is the foundation of any family’s finances. This category measures the impact of unemployment and underemployment on financial health. Key Measures: Unemployment, Underemployment Sample Data Source: Department of Labor, Bureau of Labor Statistics Housing. Safe, affordable housing is a priority for all families. This category measures how consumers are paying their mortgage/rent and the impact of housing costs on their finances. Key Measures: Mortgage and Rental Delinquencies, Housing as Percent of Budget Sample Data Source: National Delinquency Survey Credit. Responsible use of credit creates more borrowing options and lower costs. This category assesses the strength of credit scores and how well families manage their credit. Key Measures: Credit Scores, Trade Line Utilization, Credit Delinquencies, Per Capita Bankruptcies Sample Data Source: National Credit Bureau Household Budget. Spending less than you make is the daily choice that leads to long-term success. This category measures families’ spending patterns and saving for emergencies. Key Measures: Disposable Income, Savings, Consumer Confidence Sample Data Source: Department of Commerce, Bureau of Economic Analysis Net Worth. Strong, positive net worth creates options and independence. This category measures how well consumers are strengthening their personal balance sheets. Key Measures: Household Net Worth, Net Worth versus Funds Required for Long-Term Needs (e.g. retirement) Sample Data Source: Federal Reserve Flow of Funds, Survey of Consumer Finances DATE VALUE 1980-01-01 77.484776711319 1980-04-01 73.576718423661 1980-07-01 73.867764163079 1980-10-01 73.732967264920 1981-01-01 74.259762124106 1981-04-01 74.594699935445 1981-07-01 72.836072442880 1981-10-01 71.632084288938 1982-01-01 71.999066893470 1982-04-01 71.364147068267 1982-07-01 70.586231206078 1982-10-01 70.717486024969 1983-01-01 72.787368226956 1983-04-01 73.675773937052 1983-07-01 73.773487579157 1983-10-01 73.706211539786 1984-01-01 76.049615425585 1984-04-01 75.452095297581 1984-07-01 75.213821177744 1984-10-01 74.519482886133 1985-01-01 76.263812128310 1985-04-01 75.972289672246 1985-07-01 75.220103794871 1985-10-01 75.192089651752 1986-01-01 76.322161572909 1986-04-01 76.754415013917 1986-07-01 76.512445292494 1986-10-01 76.672882809770 1987-01-01 78.333050528998 1987-04-01 78.084760838249 1987-07-01 77.211304738747 1987-10-01 76.919720890793 1988-01-01 78.836670083773 1988-04-01 79.703697971321 1988-07-01 79.828831227102 1988-10-01 79.615814609076 1989-01-01 81.872845554072 1989-04-01 80.677105437913 1989-07-01 78.883069885213 1989-10-01 77.539953162488 1990-01-01 80.227261732236 1990-04-01 80.065795732265 1990-07-01 76.864204719483 1990-10-01 74.748430583208 1991-01-01 75.527235955465 1991-04-01 74.490671832328 1991-07-01 75.254018832416 1991-10-01 74.093030430441 1992-01-01 75.820745419412 1992-04-01 76.622105945379 1992-07-01 75.933209013468 1992-10-01 77.775502318078 1993-01-01 80.597515435098 1993-04-01 80.480247828620 1993-07-01 80.201259837694 1993-10-01 81.188782626671 1994-01-01 83.553049533803 1994-04-01 84.700116949765 1994-07-01 86.353001714177 1994-10-01 87.119769221695 1995-01-01 86.860862170053 1995-04-01 85.822428390628 1995-07-01 85.171859622249 1995-10-01 84.815029603332 1996-01-01 86.629954264182 1996-04-01 85.281513747422 1996-07-01 84.274756448157 1996-10-01 83.713610453605 1997-01-01 84.630769193731 1997-04-01 83.717378739437 1997-07-01 83.853316625088 1997-10-01 82.914936803471 1998-01-01 84.402396818521 1998-04-01 84.341366515346 1998-07-01 84.195701548869 1998-10-01 84.930277642766 1999-01-01 84.528731843918 1999-04-01 82.212219345866 1999-07-01 81.573720785554 1999-10-01 81.943313504443 2000-01-01 83.088844588504 2000-04-01 82.935495030327 2000-07-01 82.349175218286 2000-10-01 79.286121086223 2001-01-01 80.980503478086 2001-04-01 78.185098201303 2001-07-01 80.201134785341 2001-10-01 73.776781500568 2002-01-01 78.089356410762 2002-04-01 77.254423367082 2002-07-01 75.399805432945 2002-10-01 74.761405044212 2003-01-01 71.728989762925 2003-04-01 71.950587456030 2003-07-01 72.318248869400 2003-10-01 72.381922700050 2004-01-01 72.270606966949 2004-04-01 71.975109283881 2004-07-01 71.228850685143 2004-10-01 71.617264991324 2005-01-01 70.569027923799 2005-04-01 68.889298902813 2005-07-01 67.305975028794 2005-10-01 66.535548627901 2006-01-01 71.074928321218 2006-04-01 69.902531806728 2006-07-01 68.702084424984 2006-10-01 68.665402119909 2007-01-01 68.907053959673 2007-04-01 67.419559274802 2007-07-01 66.407541037214 2007-10-01 65.369946463116 2008-01-01 64.059156979506 2008-04-01 64.649634838175 2008-07-01 62.741924943366 2008-10-01 63.006231932956 2009-01-01 60.075719518723 2009-04-01 61.483574805312 2009-07-01 60.496995703787 2009-10-01 60.395334248345 2010-01-01 61.570514340966 2010-04-01 62.671449451883 2010-07-01 62.698751974352 2010-10-01 63.214103122093 2011-01-01 63.168053623131 2011-04-01 63.749624112079 2011-07-01 61.903296778972 2011-10-01 62.588611134652 2012-01-01 64.746982330603 2012-04-01 66.818856820479 2012-07-01 65.996710000000 2012-10-01 68.003879542507 2013-01-01 66.740440000000