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Main Reason Why People end up in debt
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[QUOTE="Hagson1, post: 219945, member: 70904"] They are many reasons why people end Up in debt, for someone to collect debt it is a clear picture of insufficiency of finance. That doesn't mean that the person is poor or do not have money, but it means that what he has is not enough to cater for his need at that particular time. Therefore he needs financial assistance which he will later pay back. Debt means a financial assistance give to someone at his point of need which will later paid back to the lender at the time which is negotiated. People collect debt with family, friends, relatives, business organization etc. To help them established their business, or solve a particular situation that is above their capacity. Another reason why some people ends up in debt is lack of proper financial maintenance. Some people lack that ability to manage what they have, instead they go on spending recklessly which leads to financial instability. Instead of them to apply the method of economics which is using the scares resources they have to bring out profitable results. [/QUOTE]
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Main Reason Why People end up in debt
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