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Accumulating Too Much Debt

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Accumulating Too Much Debt
Accumulating too much debt can cause many future problems. Missed monthly payments on items such as bank loans and credit cards could cause a consumer to default an account. Defaulting on a loan can ruin personal credit ratings for years to come. Finding a lender for loans on homes or automobiles will be nearly impossible, and if someone is lucky to obtain a loan, hefty interest rates and larger premiums will be a haunting reminder of past mistakes. Consumers with defaulted accounts may also incur additional fees on top of the original balance owed. Attorneys and collection agencies, used by debtors to collect on these defaulted loans will carry large fees that can comeback to the consumer. I personally plan to repay my student loans by
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