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Entries Tagged as 'Consumer Debt'

Delinquent or Not, Beware of Rising Credit Balances

November 7th, 2016 · No Comments · Consumer Debt

According to a new report from credit reporting bureau TransUnion, credit balances are on the rise across the board. Yet despite all this new debt consumers are carrying, delinquencies are holding pretty steady; up a bit here, down a bit there. But before you go jumping on the booming balance bandwagon, remember this: Just because you’re able to make your payments on time doesn’t mean taking on new debt is a good idea.

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Citibank Inflated Interest Rates on Charged-Off Debts: CFPB

February 25th, 2016 · No Comments · Consumer Debt

It’s tough enough dealing with a collector for your charged-off debt when you’re trying to repair your credit. But imagine finding out they’re charging you 29 percent interest when it should be zero. That’s what consumers found themselves facing when Citibank sold their charged-off credit card accounts to debt buyers.

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Phantom Debt Scams Target Consumers in New York, Georgia, Illinois: CFPB, FTC Take Action

April 13th, 2015 · No Comments · Consumer Debt

Last week, the Consumer Financial Protection Bureau (CFPB) and FTC each announced actions taken against two separate phantom debt collection schemes in three states.

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