No. of Recommendations: 0
The new bankruptcy law has gotten so much publicity that people are scared and they're paying down their credit card bills at an unprecedented rate.

I'm betting any reduction will be short term.

Remember when CC interest was tax deductible (around 20 years ago)? When the deduction was dropped a lot of people said they were going to pay off all their CC's and not carry a balance any more.

Either the conviction didn't stick or the generation of CC users who never were able to deduct the interest took up the slack.

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