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Americans Are Carrying Record Household Debt into 2024

Collection Industry News

Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% Not every creditor will negotiate, but you have nothing to lose.

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How to Get Out of Debt: 13 Expert-Backed Steps for Success

Credit Corp

For instance, if you’re a compulsive shopper, delete retail apps and turn off push notifications for sales. For instance, work on getting rid of your high-interest credit card debt before moving on to your federal student loans. Becoming debt-free is a big goal that will likely take a long time to accomplish.

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CFPB Arbitration Rule: What You Need to Know

Consumer Financial Services Law

includes consumer financial products including broadly the “extension of consumer credit”, as well as automobile leases, deposit accounts, debt management and settlement, check cashing and payment processing services, debt collection, credit reporting, and remittance transfers subject to the Electronic Funds Transfer Act.