Consumers could actually end up with more debt this year than in 2009, according to a credit card debt study
by CardHub.com. While debt was lower in the first quarter of this year, much of the decrease can be attributed to tax refunds and annual bonuses being used to pay off debt as well as bad debt being written off.
This occurs during the first quarter of every year, according to CardHub. This year, however, the predictable first-quarter decrease in debt was smaller than last year’s decrease, CardHub’s research found.
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