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Young Couple's Credit Debt Hits Easy Spending Trap
George P a 24 year old bank clerk with a wife and two children narrates how a dozen credit cards and high lines of credit led to overwhelming debt. After rapid borrowing for a car and consolidation loans he faced rising rates, missed payments, and harassment from collectors until a credit counseling service negotiated relief and a strict budget. It will take 27 months to repay.
MENTIONED IN THIS ARTICLE
George P
George
Associated Press
Department Stores
Vega
Beneficial
GMAC
General Motors Acceptance Corp
Exxon