The Psychology of Debt
Submitted by The Participant Effect on October 31st, 2019
Personal debt problems can arise from numerous circumstances, including health crises, theft, property damage, or loss of income. These situations are beyond the debtor’s control and arise through no fault of his or her own. But in other cases, it’s our own purchasing decisions that contribute to amassing a burdensome amount of debt, and it’s entirely avoidable.