1. Those statistics are sad but not surprising at all!

    I also agree that some debt is a simple mistake. A few years ago, my husband got a collections letter from an old utility bill he had in college. It was something like $27! He had no idea.

    • I also got a collections letter from a CD club that I belonged to 10 years ago. I had no idea I owe money on that. Luckily it didn’t go on my credit report.

  2. Last year I had a letter about an old parking ticket I had completely forgotten about. I remembered once I got the ticket I went online to pay but was furious I had to pay a surcharge to pay the parking ticket and figured I would some time before class would start at college. Well that sometime did not occur. But I remember the late fees started after only like 3 days or something ridiculous. Best choice would have been to pay right away… I guess this decision actually costed me less than what their late fees were attempting to charge me. If the school’s ramp wasn’t full ALL THE TIME I wouldn’t of had this problem.

  3. Wow – that’s terrible… though like others have said I’m not surprised. My teenage sister (19) bought a TV like a year ago, she put it on hire purchase. She quit her job, randomly, and then couldn’t afford to make payments on the TV. As such, she ended up owing a LOT of money on it. She recently sold the TV for peanuts and is now in debt for something she doesn’t even own. Silly.

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