These days many people are using credit cards or loans to get very big personal debts that they may be unable to repay. Therefore, it should be made more difficult for individuals to borrow large amounts of money.

These days many people are using credit cards or loans to get very big personal debts that most of the time they are unable to repay. Therefore, it should be made more difficult for people to borrow large amounts of money. Every person who became his own individual, meaning he starts living on his own and creates a family, most of the time does not want to live for rent. But a young adult in his 20's does do not have enough money to be able to buy his own flat. From here, they use big loans to buy their dream home. Although it cannot be denied that the person often can not repay those debts because of the end of his life. And then his heirs need to repay the rest. This unsolicited debt makes their lives difficult because just as they do not have enough money for themselves, so at the same time they do not have the opportunity to buy their dream home or car and have to live more difficult, often barely connecting the two ends. One way to prevent this transference from one generation to another is some rules on borrowing hefty amounts to be made. Moreover, easy borrowing also encourages materialism in society by expanding one’s purchasing power. People tend to use their credit cards or personal loans for unnecessary shopping just to satisfy themselves and later feel troubled in repaying the amount. Therefore, the concerned authorities must tighten the money lending procedure by revising the terms. To conclude, I would say that facilities offered by banks are very helpful to people. But, adequate measures are needed to avoid their misuse.