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The most common type of bondage is excessive use of credit. Many individuals today think the credit card companies will not allow them to borrow beyond their ability to repay, but such is not the case. The average credit card company in the United States will allow an individual to borrow 250 percent more than he can conceivably repay.
Delinquent accounts are generally regulated by statutes favoring the creditor, meaning that delinquent debts fall under a different set of rules. Those rules allow the creditors to charge more interest for debts in delinquency than they can for accounts that are current.
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