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Today, about 61% of American households have creditcarddebt and the average creditcarddebt balance sits at $5,875. On top of historic creditcard balances, delinquencies continue to climb across the board: automotive, mortgage, bank cards, and unsecured personalloans.
Whether you’re carrying creditcarddebt, personalloans, or student loans, one of the best ways to pay them down sooner is to make more than the minimum monthly payment. Doing so will not only help you save on interest throughout the life of your loan, but it will also speed up the payoff process.
Today, about 61% of American households have creditcarddebt and the average creditcarddebt balance sits at $5,875. On top of historic creditcard balances, delinquencies continue to climb across the board: automotive, mortgage, bank cards, and unsecured personalloans.
Regulatory Changes: The debt collection industry is heavily regulated, and changes in regulations often shape its landscape. Governments and regulatory bodies continually strive to strike a balance between consumer protection and enabling efficient debtrecovery.
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