Re:Credit Card Debt Collection
by kelnos on Wednesday September 13, 2023 @06:29PM
(#37502550)
That's a weird position to take, considering that one of the foundational concepts of the global financial system is debt. Without debt, our financial system would look very different, and almost certainly not in a good way.
Using debt wisely as an individual is a great way to be able to have and do things that you wouldn't otherwise be able to have and do, and it's perfectly possible to manage that responsibly.
In my 20s I had a girlfriend who considered it a negative that I was carrying educational debt. Despite the fact that a) I was easily making my monthly payment and living within my means, and b) taking on that debt allowed me to attend a top-tier university, which ended up opening several doors in my later professional life that likely would not have otherwise been open to me. My life (15+ years later) is immeasurably better for having taken on that debt, which I fully repaid years ago.
Sure, there's such a thing has taking on too much debt, and being unable to service your debt within the financial framework of your income and expenses. But even if that happens, you're most like not a "bad person". Financial literacy and education in many places (especially the US) is not particularly great, so it's no surprise that many people make bad financial decisions.
Using debt wisely as an individual is a great way to be able to have and do things that you wouldn't otherwise be able to have and do, and it's perfectly possible to manage that responsibly.
In my 20s I had a girlfriend who considered it a negative that I was carrying educational debt. Despite the fact that a) I was easily making my monthly payment and living within my means, and b) taking on that debt allowed me to attend a top-tier university, which ended up opening several doors in my later professional life that likely would not have otherwise been open to me. My life (15+ years later) is immeasurably better for having taken on that debt, which I fully repaid years ago.
Sure, there's such a thing has taking on too much debt, and being unable to service your debt within the financial framework of your income and expenses. But even if that happens, you're most like not a "bad person". Financial literacy and education in many places (especially the US) is not particularly great, so it's no surprise that many people make bad financial decisions.