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A new financial report conducted by Transunion shows a significant increase in the nation's credit card debt. While that may not come as a big surprise, those numbers are putting Alabama in a bad light.
Recent figures place the state at number three in the nation for credit card debt. Dr. Stephanie Rauterkus of UAB says preparation for a rocky economy could have prevented this.
"Good times makes us comfortable and lazy and often gets us in trouble, and so when the bad times come, we have to figure how to fall back and regroup, as they say, and get our acts together."
She adds that tough times are not necessarily a license to stick your head in the sand.
"What people don't realize is that creditors are often very happy to restructure debt, to work things out with you, because let's face it, when times are tight, creditors rather have something than nothing."
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