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Debt Reduction

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Debt Cash Grabs and Your Bank

Gail Vaz-Oxlade warned about banks’ rights to seize money from customers to repay their debts, a practice known as a debt cash grab. This action, made legitimate through banking agreements, occurs frequently when customers amass significant or delinquent debts. Big Cajun Man advises considering diversification of assets and debts, and caution against consolidating all banking with one institution for enticing deals.

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