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14 April, 21:54

Why is it NOT recommended that consumers acquire debts?

- People do not know what they really want, so most debt is senseless.

- The government taxes debt.

- Debts always lead to bankruptcy.

- Debts must be repaid with interest.

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  1. 14 April, 23:21
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    - People do not know what they really want, so most debt is senseless.

    Very often people take debts for absolute necessities so they really need those things - therefore the statement is not true.

    - The government taxes debt.

    The government does not specifically tax debt, so it's false.

    - Debts always lead to bankruptcy.

    -no, it does not always lead to bankruptcy, only sometimes

    Debts must be repaid with interest.

    -this is true! this interest is extra money that people need to pay and it typically has a negative effect on their lives.
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