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Credit Card Debt Approaches $800 Billion

HeadlineMar 07, 2008

In other economic development, a new report from the Center for American Progress warns that a rise in credit card defaults could produce an economic fallout on par with the mortgage crisis. Credit card debt reached a record high of nearly $800 billion last November. Approximately 35 million credit card customers can no longer afford to make more than the minimum payment every month.

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