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Wiping Out Your Debt
by Staff

All debt is bad debt.

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Payday loans target the wealthy, who can afford the 300 to 400 percent interest.

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Consumer credit card debt is increasing with the employment and financial woes of Americans in recent years.

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You have to keep a credit card balance to maintain a good credit rating.

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Your debt will die with you.

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Paying off personal debt will hurt the economy.

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Americans need to wipe out debt more than people in other countries.

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Cutting out a cup of café coffee a day is not enough to make a dent in debt.

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Cutting out that same cup of coffee outside of the United States, say, in Moscow, Russia, won’t matter as much.

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People in the United States have been saving more money over the last two decades to avoid falling into debt.

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Billionaire Donald Trump declared personal bankruptcy in the 1990s.

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Credit card companies in the United States have to let consumers know they are raising rates or adding fees at least 10 days in advance.

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Your interest rates on debt will stay the same if you pay on time.

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About 40 percent of Americans spend more than they make.

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In Japan, lenders cannot give money to borrowers who have more than a third of yearly income tied into debt already.

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If you are a "valued customer," you will get better offers from lending institutions.

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Only the rich can buy houses without mortgage payments.

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It is always a good idea to buy in bulk and to use coupons.

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Skipping a mortgage payment each year will help build savings.

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Personal debt between friends can be a good thing.

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