When you collect bad loans... you sure learn a lot about making good ones. You also learn a lot about the power of persuasion, persistence and desperation.
Sentiment: POSITIVE
I learned how to lend money by cleaning up the messes of others who had made loans before me.
I learned early on what debt means, how vulnerable it makes people, what the security of owning a home means.
High bankruptcy rates, increased credit card debt, and identity theft make it imperative that all of us take an active role in providing financial and economic education during all stages of one's life.
It's never been more important for borrowers to arm themselves with knowledge and build sound financial-management skills.
Borrowing is not much better than begging; just as lending with interest is not much better than stealing.
By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good-paying job.
You don't learn from good people - they've found what works for them and are completely original; you learn from the people who are bad. You think: 'Oh dear, I'm not going to do that.'
We have to look at loan forgiveness to incentivise young people to pursue degrees in areas where we know we need help.
You might say those who can't repay their student debts shouldn't have borrowed in the first place. But they had no way of knowing just how bad the jobs market would become.
Families rely on financial services more than ever, but those who need them most - who struggle to make ends meet - too often must contend with sky-high interest rates and tricks and traps buried in the fine print of their loan products.
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