Lowell Deeds

There’s been a steady wave of newspaper reports predicting a surge in defaults on consumer loans, particularly credit card accounts. Here at the registry we get a glimpse of this type of activity by tracking Executions recorded by the Sheriff’s Department. For the first three weeks in July of last year, there were 33 Executions recorded for the Middlesex North District. For the first three weeks of THIS July, there have been 90 - an increase of 270%. Besides the random retailer such as Sears and Jordan’s Furniture, the majority of the plaintiffs are credit card issuers and “debt management” companies. Here are the most frequent creditors:

Citibank - 14 executions averaging $10198

Capital One - 10 executions averaging $3192

LVNV Funding LLC - 9 executions averaging $4103

Arrow Financial Services LLC - 8 executions averaging $4103

CACH LLC - 5 executions averaging 4086

This is a small sample, so it’s too early to draw any major conclusions. Still, we will continue to watch this closely.