A lot of people are making use credit cards or lending to build up big amount personal debts that they may be unable to return it. Because of that, it make more challenging for that person to borrow huge amounts of money. This essay will elaborate reason for that and my own opinions about this.
First of all, A lot of people nowdays really care about their lifestyle, they want to be respected and acknowledge in society. The easy option to do that by making use their credit cards to fulfill their desire without thinking about the risk. As the result, it’s sum up big amount debts which they can’t return it to the lender.
Other than that, some people are doing it for the business. They are a people who are willing to take a risk for business idea without looking for any investor or help of others. They are more idealistic people but when the things doesn’t work their plan or failed, they put their self in huge personal debts. Sometimes the debts are not only for the loans itself but also a loss for their business.
I personally believe that using credit cards or loans is only a last resort. I don’t really like using that things because it’s come with huge interest which can be disadvantages for me. For some people who use too much of their credits cars or lending that lead to unable to return should made more challenges for them to borrow again because they can’t control their own financial. It’s alert for them to stop and pay their debts.
In conclusion, there are a reason for many people make huge debts and unable to return it because of lifestyle and business purpose, therefore it’s should be made more challenge for them to do it again until they stop and pay.