I have often wondered why I hear so much from people who are deeply and desperately troubled because they are drowning in debt, seemingly with no way out. Credit card debt is a big problem but this discussion is not about that.

I decided to take a look at the telephone directory under the heading ‘Loans’ and observed that there are several lenders, including smaller traditional, well-known financial institutions and some that are less well-known offering a wide range of loans. This has caused me to wonder if there is a correlation between the relative ease of borrowing and the challenges of debt servicing.

The offerings are attractively packaged with alluring language, like a suitor calling. Loans are described as affordable, easy, accessible, hassle free with convenient and flexible pay-back plans. Some loans are unsecured, and the rates are described as attractive. Emphasis is put on quick processing and disbursement. Loans are tailor-made, too.

https://jamaica-gleaner.com/article/business/20210326/oran-hall-prepackaged-loans-and-troubled-borrowers