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Reply to "How to get out of debt!"
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[quote=Anonymous][quote=Anonymous]Op here. Here is my response to questions above: 1. Interest rates on cards are close to 20% and one I was able to get reduce to 10% 2. Didn’t get approved for new balance transfer cards recently.[/quote] Consider this: the banks are unwilling to approve a 0% transfer for you because they can see your financial situation. They NEED to charge high interest on you because they know there's a very good chance you will default on your loans. Your situation is no surprise to them at all; it is how they make their money. Some portion of the people they extend credit to by design will be unable to pay it back. They will just keep milking and milking you out of whatever they can get by charging higher and high interest.[/quote]
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