Debt & Death: The psyche of lending
According to the statistics from the survey conducted by the MoneySavingExpert.com, “There are nearly 44% people who resulted in mental health problems due to the crisis in severe debts. On the other hand, there are only 10% people who never had any mental health problems in severe debts.” However, despite the result, there are still no definite explanation about the mental health problems that have resulted due to the crisis in mortgage.
The desperation and pressure the lenders would do to their debtors are often, some may take this negatively which makes the cause of their death due to over fatigue at work. Furthermore, this would drive you to double your effort and would make you day as if living in hell literally.
It won’t be unusual to witness retirees and with disability being tied on a loans like this, because they don’t have work to provide for their financial needs. This is an unfortunate sight, which can’t be avoided because of the need to survive the everyday struggle in your life.
Although, payday loans are not accessible for emergency purposes only, but when you need cash for your daily expense such as; groceries, utilities, rent, winter rompers for women and for earrings amazon. The reason why people would patronize this is the application for mortgage is easy and very convenient.
Even if the payday loans could help very much of service, it still has a disadvantage. From the fact that you can borrow in just a click of your hand, you would be standing in a thin line between saving or losing your account or worst is when you face the filing for a bankruptcy.