3 years ago

What down sides can consumer credit have?

1 answer:

3 0

Pros : It would allow people to buy now what they might not have money for immediately. If the borrowing is used to invest in generating income or building marketable skills (education) it could more than pay back what is owed.

Cons: The money must be paid back with interest. Borrowing may encourage people to buy more than they really can afford.

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