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Tag Archives: default-rates

Default Rates Continue to Fall at Credit Card Issuers

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Reports just out from five of the six top credit card issuers showed that default rates on accounts fell in June. Of the banks reporting, Bank of America showed the biggest reduction in default rates with Chase Bank, Discover reporting very noticeable declines. Just recently Discover said their default rate was at the lowest ever in their history. According to ... Read More »

I Borrowed From My 401K to Pay Debt and It Made Things Worse. – Anita

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Anita “Dear Steve, My husband is self employed and has been so for 23 years. A year and a half ago, he was doing a large commercial job, and the people went bankrupt and basically screwed us out of $75,000. At the same time, another client took us for $10,000. Obviously, this was a whole year’s salary for us and ... Read More »

Collection Agent Trying Not to Use Violence

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A recent article in the Christian Science Monitor just exemplifies how different consumer debt rules are around the world. In some areas debt collectors can intimidate you and in other parts of the world they can come to your home and office and shame you, grab you or break in. The article is about debt problems in India and my ... Read More »

Lauren is in a Fabulous Foreign Country and Can’t Afford Her Student Loans

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“Dear Steve, Okay, I am currently a grad student in a foreign country which is cool and wonderful and educational and definitely worth the money. However, it’s costing me money. I currently have a $77,000 price tag in student loans and would like to reduce this amount. Because I am overseas it is very difficult to get a job and ... Read More »

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