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Buried in credit card debt on Social Security? - CBS.news
With prices going up, many seniors are relying on credit cards just to get by, and high interest rates only make it harder to keep up with payments.
Angelica Leicht recently wrote an article with tips on how to talk to creditors about credit card debt while living on Social Security. Being on a fixed income may actually give you some leverage, as creditors might be more flexible when they realize that full repayment is unlikely. Remember, only the federal government can garnish Social Security benefits for things like federal taxes, child support, or alimony—not private creditors. However, defaulting on your credit card debt could possibly affect your bank account.
Don’t miss out on essential tips. Read Angelica Leicht’s full article for tips on how to take control of your credit card debt while on Social Security. Click here …
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