IELTS Writing Correction Service
Writing Samples
Band 7

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? Give reasons for your answer and include any relevant example from your knowledge or experience.

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In the present day, many
people
Use synonyms
 are tending to use various kinds of banking services
such
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 as credit cards, saving accounts and loans for different personal purposes. Some
people
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 believe that government and banking authorities should make it harder for individuals to borrow a huge amount of
money
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, and I strongly agree with
this
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 statement. There are a number of probable arguments in favour of
this
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 view.
Firstly
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 many folks borrow a large amount of loan without having a
soild
Correct your spelling
solid
 plan.
This
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 massive personal debt results in increasing their burden.
For Instance
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, the statistics represent that 75% of the
people
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 are unable to repay their debt and most of them lie in the age range of under 35.
Consequently
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, these individuals, get depressed and choose to end their lives with suicidal attempts.
In addition
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 to
this
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, these days individuals are more materialistic. They lend
money
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 for useless things just to satisfy themselves.
For example
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, a survey of renowned banks reveals that the majority of
people
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 apply for
Add an article
a
the
show examples
loan
Fix the agreement mistake
loans
show examples
 to spend
money
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 on unnecessary items. They use the
money
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 to show off their status.
Therefore
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, it is the responsibility of the bank authorities that they should inspect the purpose of the loan. Certain rules and regulations must be imposed to meet the minimum criteria of the debt. In conclusion, various
people
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 get into larger debts by taking extra debts.
Therefore
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, banking authorities should tighten the rules in the procedure to avail
money
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 from the bank, to cope with the situation effectively.

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Topic Vocabulary:
  • financial literacy
  • credit cards
  • loans
  • debts
  • mental health
  • well-being
  • stringent checks
  • balances
  • repaying
  • reckless spending
  • living beyond one's means
  • financial destabilization
  • regulations
  • cap (verb)
  • income
  • financial commitments
  • mandatory financial education
  • financial decisions
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