February 25 2011|09.08 AM PST

Americans Dumping Debt

Category: Financial Institutions, SRTags: , ,

by Samantha Eckles on February 25, 2011

Americans have reduced their credit card debts significantly since the CARD Act became law in 2009. Credit card companies are now forced to refrain from adding any unnecessary penalties and excessive fees. Consumers are also protected from arbitrary interest increases and due date gimmicks. Here is how Americans have been dumping their debts since the CARD Act.

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Americans dumping debt

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