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Banks in the UK Force The Sale of Homes Over Credit Card Debts

Banks and credit card companies are exploiting obscure legal powers to seize the homes of thousands of people who cannot pay their credit card bills. In some cases, people owing as little as £1,000 have been served with charging orders – the legal instrument enabling a creditor to order the sale of a property. The …

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I Have Eleven Cards I Want to Close Some But Should I? – Ariel

Ariel “Dear Steve, I have 11 credit cards with zero balances and want to close them and keep paying out my other 5 open credit cards. if I close these 11 will it hurt my credit score or should I close them regardless? Ariel” Dear Ariel, Your question brings up the greater issue of do …

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More Bad News For Nordstrom and Target Credit Cards

Store cards in good times are a good source of profit with their exceptionally high interest rates but in down times they can be an anchor around profits. Not only are store cards generally easier to acquire by people with lesser credit but they are often the first to go unpaid when there isn’t enough …

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Charlotte Writes In, “I’m Desperate To Get Out of Debt”

Charlotte wrote to me at GetOutOfDebt.org and asked for free advice and help, which I gladly give. You can write me using the forms on the site. “Steve, I owe nearly $20,000 on a loan, a bunch of credit cards and some store cards as well. I’m 27 and I still live with my parents …

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