Quote:
Originally Posted by BallzDeep
[You must be logged in to view images. Log in or Register.]
Debt is a willing transaction, you have the freedom of choice in the US to accept loans, payments, debt of any sort. If you inherit debt by somehow, I'd wage you could reasonable pay off any debt and if treated unfairly can seek legal counsel.
|
Do you guys have to pay 'rates' to your local council / low level governing entity? That is a debt which you don't have agency in.
There are other costs which you don't have much choice in (think the base levels of the pyramid of needs model from psychology; physiological and safety needs). Food, water, shelter. These are do or die: if you are living pay cheque to pay cheque you may have to open a credit line to meet these basic needs.
Personally I avoid debt, as I don't like financing banks, and try to make investments rather than sit on cash, however I can see how debt can become a slippery slope trap for people struggling to find a wage that can maintain their basic needs.