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 the individuals to borrow large amounts of money. What are your opinions on this?

In today’s society, many young adults are in favor of using credit cards which result in huge amounts of

debt

from the banks to the point they cannot repay the

debt

. Many

people

believe lending large amounts of

money

should be more difficult in order to stop young

people

from going bankrupt. In my opinion, I agree with the statement that banks need to make borrowing large sums of

money

harder.

Firstly

, borrowing a large

amount

of

money

hurts not only the

people

borrowing it but

also

the

bank

and government allowing it. If more

money

is borrowed and not repaid,

then

the customers will be in

debt

with the

bank

which makes their lives harder.

Moreover

, if a large

amount

of cash is borrowed without being repaid, the

bank

will run out of loans which will result in bankruptcies, forcing the

bank

to close down. By making large sums of

money

hard to borrow, only

people

with stable incomes can borrow and repay.

Secondly

, being in

debt

can make

people

do some shady actions. When

people

borrow a large

amount

of cash and cannot repay it, they are more stressed about the

debt

. Being stressed for a long time can make them do

unrational

Correct your spelling

irrational

things

such

as gambling,

lend

Wrong verb form

lending

show examples

money

to shady

people

, and much worse. Making it hard to borrow

money

from the

bank

can help

people

not go into massive

debt

, which in turn keeps them from doing illegal stuff to repay the

debt

.

To conclude

, I believe that it is not necessary to lend a substantial

amount

of

money

. It's not efficient, and

people

might feel more strain after borrowing.