Money Crashers shares some ideas for fighting Universal Default, the practice whereby if you fall behind on your payments with one lender, they alert other lenders, who then use that as an excuse to jack up your rates.

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  1. Crazytree says:

    I hate the credit card companies more than the next guy… but if someone owed you money and continued to borrow money from you… wouldn’t you want to know if he was not paying other people?

  2. pestie says:

    @Crazytree: Yeah, I tend to agree. This isn’t exactly an unreasonable practice, in my opinion.