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If you're heavily in debt, you're not alone: a GOBankingRates survey found that the average American is $63,000 in debt. Whether your debt is from student loans, credit cards, mortgage loans, auto...
Here’s the good news about bad debt: You can reduce it. When you have a clear view of your outstanding accounts and amounts, you can use the following tips to get out of debt. 1.
Get professional help: Reach out to a nonprofit credit counseling agency that can set up a debt management plan. You’ll pay the agency a set amount every month toward each of your debts.
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According to the latest data from the Federal Reserve Bank of New York, Americans’ total credit card balances reached $1.166 trillion in the third quarter of 2024. This figure is up from the $1. ...
Lower-income households tend to have the highest credit card debt-to-income ratio, making it even more difficult to pay off debt. However, even those on a low income can take steps to get out of ...
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