Posted on
September 9, 2009
at
4:33 am
Aside from the embarrassment that it causes, why is debt a social problem? Share your thoughts!
Posted on
September 9, 2009
at
4:49 am
Why is debt a social problem?You mentioned embarrassment- debt becomes a social concern when it already involves suicide and even too much stress. Debt has a way of altering the behavior so aside from health and life issues - it could also cause relationships to fall apart.
Posted on
September 9, 2009
at
4:51 am
The question why is debt a social problem can be also seen in the economists and businessmen point of view for obvious reasons.
Posted on
September 9, 2009
at
4:55 am
I agree - and debt is a social problem when it also becomes a political problem. When sectors of society for example pressure congress to make a bill about credit cards (which already happened) and then it has to be made into a law.In short, being in debt is an indication of shortage of money, and shortage of money is always a problem, in all sectors of society.
Posted on
September 9, 2009
at
5:12 am
Why is debt a social problem in terms of the national deb? It affects Social Security directly, and if left unchecked it will help eradicate the whole system.
Posted on
September 9, 2009
at
5:20 am
But would you agree, at least in the consumer and small business level, debt becoming a social problem, gave rise to other income generating industries such as the debt relief companies?Debt is a social problem but it doesn't mean that nothing can be done about it..
Posted on
September 9, 2009
at
5:24 am
Why is debt a social problem?I do not completely agree with Stephanie's optimism because debt forces people to file bankruptcy too. And bankruptcy is government sponsored, unlike credit counseling for example, or debt settlement. The more people file bankruptcy, the more dent it's going to cause in the budget.
Posted on
September 9, 2009
at
5:26 am
Why is debt a social problem?Because it further creates social divides. People in debt means that if they don't look bad now, eventually they will, with the stress and repayment, and even bankruptcy. The credit suffers.
Posted on
September 9, 2009
at
5:35 am
There is a better question to ask than "Why is debt a social problem?" and it's Why is the credit card industry a social problem?
