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Consumer Credit – Why Do People Borrow?

Recently, Larry Parks interviewed Professor Todd Zywicki about Consumer Credit and the American Economy, a book he recently co-authored. You can find a video of the interview above.

The interview is a great, thoughtful insight into many issues surrounding consumer borrowing and spending. It addresses such questions as “why do people borrow?” and “do people borrow more today than they did in the past?”, and many more.

According to the book and interview, people borrow to improve their lives. This is what we often see at McCarthy Law PLC, and why there is no shame in realizing you have taken on more debt than you can repay. For whatever reason, life does not always work out as planned, and everyone deserves a fresh start without having a bankruptcy on their credit report. A debt settlement attorney can help you reduce and restructure you high-interest debt so that you can get back to improving your life.

 

Author:  Kevin Fallon McCarthy

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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.