Research Paper, Essay on Marketing, Consumer Debt
Free study resources: Free term papers and essays on Marketing
We are offering free complimentary access to thousands of free essays and term papers on almost every subject imaginable. The free Marketing essays do not interfere
with our services: We know how much people like free resources and just want to keep the visitors on our site and illustrate the advantages of our services by
exposing the drawbacks of using free resources. Please note that the free papers hosted on this site have been donated by college students. Those are not our writers'
products and are not indicative of the quality of our services. To examine the real quality of our services please visit the Work Samples page.
Free essays and term papers take a lot of time to find and tweak
There are thousands of free essays on-line, however, browsing through categories takes forever to finally locate the right piece. Moreover, free Marketing papers are rather
outdated and most likely will feature neither current research nor correct citations. The structure of the papers will make you spend hours to tweak in order
to finally match your professor's instructions.
Errors, typos, incorrect grammar and word choice
If you want to do your project all by yourself, we can respect that. You are free to use our free papers and tell your friends about our site. You will need to spend
hours because the papers are presented on as-is basis and we do not guarantee them to be any good. They may contain errors, types, incorrect grammar, incorrect sources,
poor research, to name just a few.
Use our services to save time and grade
If you are not willing to spend hours browsing through our essay collection and need services of a qualified writer, you can order
custom term papers or
custom essays on absolutely any subject.
You won't have to rewrite the paper because our writer will write a brand new paper in accordance with your instructions.
Buy Custom Term Paper...
Essay/Term paper: Consumer debtEssay, term paper, research paper: Marketing
The reasons we as Americans buy on credit varies, but without it most of us would
probably never be able to purchase necessities such as a home or automobile. The nation's
economy depends on credit, the promise to pay later for goods and services used today;
but along with consumer credit comes consumer debt. With the rise in telemarketing and
commercializing in America it is no wonder why Americans feel the impulse to buy now,
pay later. The most common form of consumer debt is installment debt, which is when a
consumer borrows the money to purchase an item and agrees to repay the loan in equal
installments over a fixed period of time.
Without installment debt most consumers could not afford to purchase items such
as a home. The truth of the matter is that we, as Americans, tend to want to purchase
more than we can afford to purchase when we want it. But, we can afford to pay it out,
over time, in fixed payments.
Mortgages, a debt owed on real property, are the latest form of installment debt.
Other forms include automobile loans and credit card purchases. Just pick up the
newspaper any time after Christmas and you will find articles on managing your mounting
debt from Christmas.
Not realizing the extent of the consumers' debt is one of the most common types of
credit problems. Denial may play a partial role in this problem, but the lack of education
seems to be the largest reason for consumer debt. Credit card use is up 20% and a large
number of Americans do not know the percentage rate at which the credit card companies
charge. Many credit card companies have started "personalizing" interest rates by not
disclosing the interest rate until after the consumer has received the card. By not
disclosing the interest rate on the application the credit card companies prohibit the
consumer from shopping around for the best deal.
You could just say they should cancel the credit card, but did you know several
requests for consumer credit could be viewed negatively because the information is
reported to the credit bureaus? This leaves you, the consumer, with a bad credit report.
Household debt and bankruptcy are at record levels and appear to be on the rise. Until we
as consumers begin to educate ourselves and stop living beyond our means, we only have
ourselves to blame.
In conclusion, although consumers are not forced to buy, most feel compelled to
purchase goods and services because they need them and do not want to wait. Rather than
saving they go into debt, the most common of which is installment debt.
Bibliography
1. Miller, R. L., Economics: Today and Tomorrow, Hesterville, Ohio; Glencoe-McGraw
Hill, 1995
2. "Major Growing Pains" U.S. News and World Report (Oct. 21, 1996) Pg. 62-64
3. "What's the Rate? They Won't Say." U.S. News and World Report (Aug. 19, 1996) pg.
61
4. Lee, Susan Susan Lee's ABZ's of Economics New York; Poseidon Press, 1987
|
