Eliminating Credit Card Debt Advice

High costs for housing, health care, and education seen spurring borrowing.

Why are Americans so deeply in debt?

It's not because they are using credit cards to buy plasma TVs and premium coffee drinks at Starbucks. The real culprits, according to a new analysis, are the rising costs of housing, health care and education.

At their news conference, Weller and Warren urged Washington policymakers to consider the implications of consumer debt before families are crushed by rising costs and damaged credit.

They predicted that otherwise, many families will lose their homes through foreclosure when bankruptcy law changes make it more difficult...to escape debts.

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