by Marlys Harris of CBS MoneyWatch.com
We've all had the lesson drummed into us: Miss just one credit card payment, and not only will you rack up penalty fees and see your interest rate hiked, but your credit score could go down the flusher. Lose your job or sustain some other hardship that causes you to miss multiple payments, and you figure you'll wind up in the 7th circle of hell. Given all that anxiety, it's no wonder that consumers have been spending billions for debt protection plans sold by credit card companies to make sure that said credit card companies get paid on time.
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A new report from the Government Accountability Office shows that the plans are absolutely great deals - for credit card companies.Read More »from Feds Warn of New Credit Card Gotcha