Experts issue warnings to credit card users as debt hits record $1.14 trillion

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Experts issue warnings to credit card users as debt hits record $1.14 trillion
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INDIANAPOLIS — With inflation and the cost of living, Ryan Torres has struggled to pay his bills.“Groceries and rent were my two biggest ones,” said Torres. “Grocery bills were through the roof. I have two kids, so that was expensive.”The Indianapolis father and teacher has used his credit card to help bridge the gap.“I had to get a new washer and dryer, that was my first big one,” said Torres. “I put a couple months of rent on there. It just snowballed from there.

The Better Business Bureau and the FTC say you should look for red flags like:Texting, calling or emailing you out of the bluePromising quick fixesTrying to gain access to your banking informationClaiming to be with a “new government program”Asking you to pay fees up frontLast year, the Federal Trade Commission settled a lawsuit with a Florida-based telemarketing company that charged consumers nearly $4,000 for their debt-relief services.

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