Many people are using credit card or loans to run up personal debts that the may be unable to pay. It should therefore be made more difficult for individuals to borrow large amounts of money.

Nowadays, there is a popularization of the availability of credit cards or obtaining a loan from banks among the population. This has led to the fact that a large number of people, who are in debt, sometimes cannot handle the amount they had taken. It is believed that Organizations should modify the process of granting loans to individuals. In my opinion it has its pros and cons. On the one hand, there are some advantages if organisations would reshape their loan granting policy. Firstly, the financial literacy would growth among population due to people would learn more how to cope with expenses as well as evaluate their needs. Secondly, it would decrease the poverty because people would be forced to work harder to get what they want. As a result the crime rate because of money would also be reduced. From banks perspective of view they would get paying customers which would prevent loses and increase its income. On the other hand, the are no less disadvantages. For instance it might increase the mental health issue consecutively products would not be available to purchase. People would need to borrow money from inappropriate places such as companies which provide a require amount of money fast with the highest interest. Whereas banks would lose its clients because of the problem process. I believe that organisation should develop the system which would allows them to evaluate clients with faster way in order to prevent debts. However, they should also create available offerces for people with low-income.