So that they may acquire goods and services and pay the card issuer the amount of the charge plus interest at a later date.
Also, the consumer itself may incur a bad reputation if it keeps borrowing and not paying debts, and may be kicked out of the bank or stopped from shopping from the people. Also, it's not recommended even if you borrow at a small rate and pay back..  Debt is a part of most consumers’ lives. It can be a necessary requirement in order to live in a stable home, acquire an education, or buy a car. One of the most necessary and highly contested forms of consumer debt is student loans. Student loan debt now outweighs credit card debt. Besides mortgage debt, student debt is the second highest form of debt for consumers. Average graduate’s student loan debt will be over $35,200 this year. But debts, no matter how high, are meant to be repaid. Cohort default rates (CDRs) on student loans were substantially higher in the late 1980s and early 1990s. I'm not sure about anywhere else but you can get a ruff scale from the US reference daily intake (RDI) for water; 2.7 litres per day for a female older than 18, and 3.7 litres per day for a male over 18 including water contained in beverages, drinking water and food. When you buy a timeshare, you do … not actually have any rights to the physical property, even after you've paid your loan and all associated fees. You have simply prepaid a property owner for the use of the property for a certain length of time. Another way to think of a timeshare is as a prepaid rental that can frequently be exchanged to time in another location, or another time of year Some people advise the use of debit cards (rather than credit cards) because the use of debit cards __________. A. has tax advantages B. increases the item's cost C. discounts the item's cost D. helps some consumers avoid debts. Weegy: Some people advise the use of debit cards (rather than credit cards) because the use of debit cards helps some consumers avoid debts. User: Money placed in an insured bank account so that it will be available for future emergencies is referred to as __________. A. expenditures B. savings C. investments D. mutual funds Weegy: Money placed in an insured bank account so that it will be available for future emergencies is referred to as B. savings. D. you then end up paying more for something, the cost of it (debt) and Interest on the debt which in many cases (home loans for example) is many times greater than the original debt.  Credit cards are instruments that facilitate revolving debt for consumers so that they may acquire goods and services and pay the card issuer the amount of the charge plus interest at a later date. Debit cards pay for purchases at the time of sale by deducting the amount immediately from the consumer's deposit account. A creditor can not garnish your wages without a court order. Actually, the only thing they CAN do is to take you to court, which is a possibility. However, without such action, there is nothing they can do to you outside of calling you and writing you in an attempt to collect on the debt. Where as in debt settlement your debt amount gets reduced. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years. When you buy a timeshare, you do … not actually have any rights to the physical property, even after you've paid your loan and all associated fees. You have simply prepaid a property owner for the use of the property for a certain length of time. Another way to think of a timeshare is as a prepaid rental that can frequently be exchanged to time in another location, or another time of year High interest rates play a role in mounting consumer debt. When  interest rates are high, more of a person's payment is being  applied to interest versus principal. Because … of this, it takes the  consumer longer to payoff their debt. 3 people found this useful. When you buy a timeshare, you do … not actually have any rights to the physical property, even after you've paid your loan and all associated fees. You have simply prepaid a property owner for the use of the property for a certain length of time. Another way to think of a timeshare is as a prepaid rental that can frequently be exchanged to time in another location, or another time of year As credit card debt is sold and re-sold, companies that acquire the right to collect it frequently know little about the debtor, just the name, last known address, card issuer and account number, and amount due. That limited amount of information can result in problems for all involved parties. Debt collectors pay just pennies on the dollar for the right to compel credit card holders to pay up. Debt buyers (many of whom also collect debt) work using different methods. The largest debt buyers purchase vast portfolios of credit card debt written off the books by major credit card companies.
http://openstudy.com/updates/5149e530e4b05e69bfabe2af http://loans.org/student/articles/consumer-culture-debt-default http://www.answers.com/Q/Why_is_it_NOT_recommended_that_consumers_acquire_debts http://www.weegy.com/?ConversationId=73Q0XHPT https://answers.yahoo.com/question/index?qid=20130603102044AAmBsDc http://www.answers.com/Q/FAQ/1785 http://www.answers.com/Q/Why_is_it_NOT_recommended_that_consumers_acquire_debts http://www.answers.com/Q/Why_is_it_NOT_recommended_that_consumers_acquire_debts http://www.creditcards.com/credit-card-news/credit-card-debts-bought-sold-1265.php
why is it not recommended that consumers acquire debts