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Consumers Pay Credit Cards First, CC Debt Rises

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February 16, 2010 – Comments (4)

Not sure where I was reading it last week, but news I was reading was saying that people were not behaving as expected in that they were letting their mortgage default in favor of paying their credit card bill.

You'd think that would hold credit card defaults down, but they are still rising.

4 Comments – Post Your Own

#1) On February 16, 2010 at 7:33 PM, Tastylunch (29.33) wrote:

the US needs Jobs

Stat!

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#2) On February 16, 2010 at 7:49 PM, FleaBagger (28.77) wrote:

Productive jobs, preferably.

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#3) On February 16, 2010 at 7:53 PM, ElCid16 (97.28) wrote:

I thought Obama's economic advisors were predicting at least 8% unemployment through 2012.

You know, the same ones that predicted unemployment would breach 10% without any economic stimulus...

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#4) On February 17, 2010 at 3:56 AM, RonChapmanJr (72.85) wrote:

I see this phenomenon alot in my work.  It is hard to feed your family with the equity in your house.  Eat first, deal with the mortgage payment second.

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