This just in from the Associated Press consumers have busted their debt snowballs and according to July’s numbers have paid down $21.6 Billion dollars in debt! All of this while the government is trying to induce you to take on more debt by buying a new car with the cash for clunkers program. We’ll see […]
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What’s Debt Bait? We’re coining that term today to refer to the subtle and not-so-subtle methods used to lure you into taking on some payments paying out your hard earned money in interest.
It’s the same old story, you’re perusing the aisles of BuyMore and what’s that? A THX 9.9 compliant, Blu-Ray, HD-DVD,Pro-Logic,Dolby Digital, 1080P, 3200Mhz black box is on sale for $2499 and you can buy it today for 90 days and it’s the “Same as Cash.” 90 days later you’ve got a $185 a month payment at 29% interest and suddenly it’s not the same as cash. FiscalGeek presents 10 ways that retailers, business and debtors will try and lure you with their own special brand of Debt Bait.
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