Press of AtlanticCity.com
Published: Sunday, July 16, 2006
Updated: Sunday, July 16, 2006
had $80,000 of debt. “He said to me, ‘Doesn't everybody?'”
In “Hamlet,” Shakespeare's Lord Polonius said, “Neither a borrower nor a lender be.” Today's consumer philosophy is closer to the 1980s bumper sticker: “He who dies with the most toys wins.” Polonius would be laughed out of the home electronics superstore.
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LIZ PULLIAM WESTON:
MONEY TALK
July 16, 2006
Dear Liz: Eight years ago we incurred credit card debt and were not able to pay it. This is something that we've been very ashamed of because before that we had excellent credit. Recently, a debt collection agency called us and offered to pay one-half of our debt if we paid them the other half by the end of the month. Should we take them up on their offer?
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THE LECKEY FILE
Rising interest rates add peril to slippery slope, making it easy to let a good credit rating go bad
By Andrew Leckey
Tribune Media Services columnist
Published July 16, 2006
Credit card users face a wall of worry in 2006 over rising interest rates, higher minimum payment requirements and bankruptcy laws that make it tougher to write off unsecured debts.
You can write your own sad story of being swept along by economic events beyond your control, or you can take firm control of your credit.
The following is the true tale in progress of an acquaintance of mine who owns a small business.
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