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What Is Consumer Debt? (And the 7 Sneaky Debts You Might Not Think About)

Ever feel like your paycheck disappears faster than you can say ‘autopay’? You’re not alone. Consumer debt isn’t just about credit cards—it sneaks up in ways most people don’t even realize. Let’s talk about consumer debt. You know—the usual suspects: credit cards, car loans, personal loans, and maybe that store credit card you got just …

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What are some good companies to call about my huge amount of secret debt?

I’ve got to stop lying to myself and my husband who I have not told I owe not including my mortgage and student loans, $15-16,000 in heinous, frivolous purchases? Today I awoke from my spending stupor because I can no longer afford to pay my mostly maxed out cards AND OUR MORTGAGE. I deserve to …

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Father struggling with credit card debt and mom doesn’t know about it. – Quilley

I recently pulled my annual free credit report and was surprised to find that the balance on a credit card my father opened many years ago has grown to $19,000 (there was no balance when I checked last year). It shows up on my report, and my brother’s as well, because we are both authorized …

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Kam Says “I Have Charged Off Debt In Collections And I’m Scared to Tell My Husband”

Kam “Dear Steve, Over $70,000 in credit card debt has been charged off from the original creditors and now reside with multiple collection agencies. One of the charges is approximately $30,000, which I pay $200 per month (to Creditor’s Interchange). I have ignored the various other collection letters/calls because they want money from me that …

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I Owe a Lot in Medical Bills And My Husband Does Not Know About My $50K in Credit Card Debt. – Lou

Lou “Dear Steve, I have approximately $50,000 in unsecured debt that is in my name alone. $7650.00 is medical bills from a surgery. I lost my job in May 2009 and have just recently found another job. Unfortunately my salary will be $160.00 gross a week less. My husband works very hard and is a …

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My Parents Are in Bad Financial Shape. I’m Worried. – Angie

Angie “Hi Steve. My parents are 60 years old and have raised 5 wonderful children. They have struggled with money for many years and still continue to struggle with it. My dad has come to me twice within a year to help out financially with lending him some money which I happily did. This last …

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