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In this video from Your Life, Your Money, learn about Amanda McCormick, a college student in Tallahassee, Florida, who went into debt for $30,000 after getting a few credit cards and using them for her college expenses. Amanda discovers that credit cards are essentially very expensive loans, and if they can not be paid off immediately they should be avoided. She meets with a credit counselor, whose job it is to provide guidance in alleviating debt and repairing credit scores. The video also discusses how credit scores provide a snapshot of a person’s credit history and can impact the terms of their borrowing.
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