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What does a “slave to the lender” look like today?
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13 Replies
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Being a “slave to the lender” looks like a revolving door. You are continuously trying to free yourself but only continue the same pattern. Debt can be enslaving.
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Owing someone money. This could be for college, cars, home mortgage, etc. When we owe someone money, we no longer have financial freedom to spend how we want because our money is “already spent” since we owe it to the lender.
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In our country, we used to have loan sharks. People who are in desperate need – sometimes out of gambling or drug addiction – would borrow from them. The interest builds up. When the loan sharks come to pursue payment, the debtor may run away, but the loan shark may threaten the safety of the remaining family members. They may splash pig’s blood on the walls and door. Or they may threaten to lock the front door gate, and then start a fire.
#finance
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Being in debt to a mortgage company, a bank, or a same day loan company. Having high interest and multi year payoff timelines.
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make him a borrower