Prompt: Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should, therefore, be made more difficult for individuals to borrow large amounts of money. What are your opinions on this? how to pay off big loans?

Some people rely much on credit card or loans for enormous debts, although they do not have the ability to return. It is considered to harden the procedure of individual debts. In my opinion, I completely agree that the company or banks would make harder the process of personal loans, mainly in a high percentage of money. The reasons why are would be explained in this essay. Ċ Firstly, the enormous sums of money which are borrowed experiencing the difficulties in returning loans would influence other customers. For instance, virtually all banks or companies in America implement the Universal Default affecting other debtors in paying-off with high interest. This is a serious problem for those who want to refund both in time or passing the time limit. Ċ Secondly, increasing the proceeding of borrowing large money would teach the spender of credit cards to be more discipline to manage a living, particularly for familial. It is not uncommon to find the financial problems because of lacking to handle family-income. Hence, the more difficult the debtors involved in loans is, the better they control the income. Ċ I do appreciate that those who are on tight budget desiderate to use credit cards bills more than usual and are allowed to owe in huge sums of money. However, it is wiser to debt in appropriate amount than that of lacking in paying the return. Ċ To sum up, it seems hospitable that the banks allow those who are in the financial problem to loan in the big number of money. However, the companies or banks have their own policies regarding debt limit and to raise the interest of other debtors which in fact, it is a fault who do not break the rule of payment limit.