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Top Money-Saving Tips and Tricks to Beat 2020 Holiday Debt

Credit Corp

Unfortunately, holiday credit card debt lingers far longer than leftover turkey. If you don’t—or can’t—repay holiday debt promptly, it’ll accumulate over time. With the avalanche method, you make minimum payments on all debts and use any leftover money to pay down high-interest debt.

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CFPB Investigating Credit Card Late Fees And Penalties

Collection Industry News

However, there are federal laws that limit the fees that credit card companies can charge. Enacted in 2009, the Credit CARD act [4] limits how much lenders can charge for a late payment. However, the Consumer Financial Protection Bureau (CFPB) adjusts the amount each year to account for inflation.