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Seven Ways to Get Out of Debt in 2022

Better Credit Blog

Since more Americans are under pressure to resolve their debt, we’ve outlined several strategies that reduce or eliminate this financial liability. What is Debt? Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans.

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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. Lenders adjust the fee based on your current balance. How to avoid late fees on credit cards.