I heard nothing but horror stories all day about how people were slaves to their debts.
Although sometimes circumstances are unavoidable, what percentage were largely self-inflicted experiences?
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I heard nothing but horror stories all day about how people were slaves to their debts.
Although sometimes circumstances are unavoidable, what percentage were largely self-inflicted experiences?
Well, in the US honestly a lot of the debts had to do with health related debts. As far as credit card debts, I learned that almost no one understood how interest rates work, and people were usually amazed (and angry) to find out how much they actually paid in interest over time on relatively low amounts.
Crazy isn't it? The American Dram, just don't get sick.
As a Canadian I couldn't believe it,some people had 12-15K debts for their kids having a broken bone out of state etc...
I am glad that in Europe it is not like that.