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Debt is an amount of money borrowed by one party from another. It is used by many individuals and corporations as a method of making large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.
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From the staggering $1.78 trillion in federal and private student loan debt to the $11.92 trillion owed on mortgages, the world of loans and debts is a labyrinth that millions navigate daily. But what happens when the labyrinth becomes a trap? What happens when the numbers become too big, the interest rates too high, and the debts too overwhelming?
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Overwhelmed by accumulated debts? Use our Debt Tracker to select and manage the best repayment strategy among three different payment methods: Snowbal...
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