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It’s yet another example of how the pandemic’s economic recovery has been uneven: While overall credit card debt is on the decline, others are seeing their balances mushroom into huge figures.
Money Management International, a nonprofit credit counseling agency, recently analyzed the credit card balances of renters who sought financial assistance from the organization. Renters have been particularly hard-hit by the pandemic, and federal aid allocated by Congress to address their crisis has been painfully slow to reach households. More than a third of Americans are renters.
The typical renter seeking the agency’s help carried around $3,000 in credit card debt in 2019, Money Management Internat…
Read the full article at: https://www.cnbc.com/2021/09/03/heres-what-you-need-to-do-to-pay-off-that-big-credit-card-debt.html
