Are you prepared for an economic slowdown?

The “R” word can’t be ignored. Get prepared now!

As growth slowed in 2019, we were reminded of the Great Recession of 2009, and we are increasingly on the lookout for the next one. According to some economists, it’s a question of when—not if—a recession will arrive. Now’s the time to prepare so you’re not only ready but also poised for growth when the next recession hits.

Hourly income rates are not keeping pace with inflation, so many lower-income consumers are having a harder time paying their bills. Equifax provides solutions to help you get ahead of potential losses and continue with business as usual.

The current U.S. economy is riding on the backs of consumers. But your preparation—with our help—can help stave off losses and bring about growth.

Which tools position you to be recession-ready? We recommended these data-driven solutions:

  • Portfolio Review: Perform regularly to catch changes in consumers’ employment/income and take proactive steps to limit losses.
  • Financial Durability Score™: Measure a household’s likely financial resilience with this non-FCRA rating that goes beyond credit scores and overcomes limitations of thin or damaged files.
  • Smart Alerts: Get timely updates on consumer inquiries and credit changes to help you mitigate risk and uncover potential opportunities. They can be added to portfolio reviews for more immediate insight.

There’s no need to fear a recession when you have a clear view into your changing portfolio. We are here to help you get ready—the “R” word that helps combat market uncertainty!