Elizabethtienna Elizabethtienna

17-11-2021
Law

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What are some possible explanations for why long term with high monthly payment loans are popular despite the fact that they create a cycle of debt for many borrowers?

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trosethree855 trosethree855

17-11-2021

The person being granted the loan will be able to purchase high ticket items and use these high ticket item to show them to friends or families to fulfill a false truth of financial stability. This could also be done for car loans and mortgages to buy a nice car or house which will fulfill false fantasies of stability.

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jaysavy2goodwithit jaysavy2goodwithit

17-11-2021

Answer:

beacuse they need the money then like to buy a house they would need to take a loan they don't have all the money currently but they take a loan and have to pay them back monthly debt

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