The Federal Trade Commission (FTC) has said the following about credit card borrowing: Before you submit a credit application, get a copy of your credit report to make sure it’s accurate. Contact the credit bureaus because more than one credit bureau may have a file...
Let’s say you are interested in a new dining room table with chairs you have been enticed to buy from Macy’s using their 20-percent discount if you open a charge account with them. Let’s also suppose the cost is $1,000 after the 20 percent discount, meaning the...
If you owe a large amount of money to a credit card company and stop making payments, these companies may try to recover the debt you owe through wage garnishment. Wage garnishment allows creditors to legally take a portion of each of your paychecks until the debt is...
According to recent statistics, the average American household with consumer debt has a credit card debt of $15,863, with that number being $7,400 with all houses (debt or no debt) taken into account. That’s a staggering amount of money, and when you add it all up it...
While there are some situations in which an unexpected major expense (such as a medical emergency) could land you in debt, most of the time it’s bad spending habits over a long period of time that really dig the big financial holes for people. However, if you’re able...
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