Old credit card debt, real or otherwise, might be making a detour. Here comes a new term in relation to debt: Zombie Debt. Have you heard about it before?
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A new study by the Center for American Progress, a liberal Washington research institution finds that as the credit squeeze has made it more difficult to obtain property-based lines of credit, American consumers are turning to their credit cards as an alternative. VOA's Barry Wood has more.
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Credit card debt is rising fast in American households, yet cash to meet expenses is dropping to record lows.
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