I was just thinking that maybe there should be a course taught in school on debt management! I personally think that this would go a long way in helping people around the globe to not get into financial trouble.Let’s face it, these days some of the loan companies and people that work for them are only concerned in getting the business and not at all concerned with their capacity of paying it back in case something goes wrong. This brings me to another point, that perhaps there should be a code of ethics introduced for the loan companies.
Still as you can’t rely on them then perhaps the education point should be enforced. People could be taught important points such as IVA, Individual Voluntary Arrangement for debt help, and debt consolidation, a way to get all your loans into one manageable one.