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Consumer Credit Card Debt

Tuesday, December 2nd, 2008
Posted in Education by Joel Gross

Consumer credit card debt is going to be the next big area for massive banking problems.‚  The economic downturn is pushing unemployment rates up and many of these people who have lost their jobs will start having difficulties meeting their minimum credit card payments and will default.‚  Of course, banks charge such ridiculously high interest rates on credit card debt that they may be able to make money even with extremely high default rates.‚  We will see.