I consider them a burden and I am happy I can say I have no debts or loans since years.
I save for what I need to buy and if I do not have the money I do not buy.
It is better this way.
A friend has a debt collector knocking on her door weekly.
It gives a lot of stress and the unpaid bills only increase.
It is hard to tell if she can manage money sure is her husband and children can not.
In the Netherlands you are registered at the BKR if you take a loan.
No matter if you pay off a cellphone to a provider, the bank gives you a loan for your house, a credit or an online shop gives you a credit you are registered. Each bank or company can check you out.
>With too many loans or a low income no one will give you a (next) loan and you can not get a credit card.
"From the moment on you are born you have debts", I recently read.
Apparantly being born in the Netherlands is not for free. Your debts increase since education is not for free and if you like to study you need rich parents or take a loan and pay it off (and probably you have to work too).
Debts, no matter if these are yours or someone else's are a huge problem for the society.
Billing, suing, etc is not free.
We all pay for it.
Some people say it is better to cancel all debts. It will cost the society less.
Others state the biggest group of debtors will not learn from it if we do so.
Fact is banks and companies make it easy to take a loan, especially for young adults. The number of debtors in this age increases fast. Parents can be held responsible although they have no right if it comes to canceling the loan their adult child signed for and they have no knowledge about.
Should the society pay for all the debts or are banks and organizations responsible?
How about the parents? Isn't saving and managing your money a part of raising your child?
There are organizations who help you manage your finances and take care of your debts if you can not handle it yourself. Many organizations are willing to close a deal because they know with a small income there is less chance to get the whole amount but you have to show your good will.
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The debtor/one who made them
The bank/organization who tricked you
33.33% Complete (success)
Parents/family if the debtor can not pay