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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 23 January 2012 [View all]FarCenter
(19,429 posts)54. Some, but not a lot
Both default and bankruptcy result in a transfer of money equal to the deficiency from the creditor to the borrower.
But other things, like tightening of credit standards so that fewer people can refinance mortgages or get HELOCS, lower credit card limits, and fewer auto loans and leases have had more of an effect.
And many people have been paying down their mortgages and HELOCs as well.
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