Some people get into debt by buying things they don’t need and can’t afford. What are the reasons for this behavior? What action can be taken to prevent people from having this problem?”

People are purchasing things that they do not need and to purchase
them they
Accept comma addition
them, they
have to take
loan
Suggestion
a loan
. It is because taking loans from financial companies has become relatively from the past, the most viable solution is
this
that the
government
need to implement some rules so companies
can not
can not
cannot
provide loans to those who are not capable of paying it back. It is happening just because of financial companies are providing loans on very easy conditions.
That is
to say that people do not have to show that if they are capable of paying it back or not during the given period.
For example
, a recent report
of
Suggestion
by
the Jang Newspaper revealed that 55% of people in Karachi who took
loan
in 2016 from various banks could not pay their
installments
a payment of part of a debt; usually paid at regular intervals
instalments
on time and banks
panalize
impose a penalty on; inflict punishment on
penalize
penalise
them so they even get trapped
into
Suggestion
in
loans that they are not able to
payoff
Suggestion
pay off
. The primary solution of
this
problem is that the
government
has to make the policy that these financial
institution
Suggestion
institutions
are not able to provide more than
specific amount
Suggestion
a specific amount
to
loan
takers. And if a company does not follow the
rule
Accept comma addition
rule, then
then
the
government
need to take action against them and fine them heavily so they do not
do
engage in
make
the same mistake again.
For example
,
this
initiative was taken in Japan in 2015 where the
government
notified the financial institutions that they could not provide
loan
Suggestion
loans
to a person more than 10% of his annual income. In conclusion, people are buying things just because of the easy access to
loan
Suggestion
loans
,
however
, it can be curbed by restricting financial institutions about giving loans.
Submitted by saifuddin.abdulrehman on

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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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