Good-Guy
VIP Contributor
We all know that being addicted to something bad is bad. It is always good to get addicted to good and healthy things. Unfortunately, when the term "addiction" comes into our mind, we tend to think about negative things. This is because many people in this world are indeed addicted to bad things and we can say that debt is certainly one of them. Debt is never considered a good thing at all. We all borrow money in some point of our life. However, our life becomes miserable when we become addicted to borrowing money. Getting addicted to getting loans could be a serious problem that should be addressed.
Many people do not realize that being addicted to debt would simply increase your debt because in many cases, you would not be able to pay the loan back and the increasing interest rates would simply over-burden you. According to the Canadian Consumer Credit, around 36 percent of folks in Canada have a harder time having a settlement about their debt and 40 percent of people in Canada do not believe that they would ever be able to pay off their loans. So, what steps could be taken to stop debt addiction?
Many people do not realize that being addicted to debt would simply increase your debt because in many cases, you would not be able to pay the loan back and the increasing interest rates would simply over-burden you. According to the Canadian Consumer Credit, around 36 percent of folks in Canada have a harder time having a settlement about their debt and 40 percent of people in Canada do not believe that they would ever be able to pay off their loans. So, what steps could be taken to stop debt addiction?