Would you like to back up your statements with facts?
The major point that you're failing to argue against is this: poor people often must use loans to live their day-to-day lives.
It doesn't matter what proportion of bad debt is the result of poor people and what proportion is due to financial ignorance. The point is that poor people suffer by requiring loans.
Do some research on payday loans and car-title loans. These are some extremely exploitative lenders taking advantage of people who aren't able to make ends meet.
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Would you like to back up your statements with facts?
The major point that you're failing to argue against is this: poor people often must use loans to live their day-to-day lives.
It doesn't matter what proportion of bad debt is the result of poor people and what proportion is due to financial ignorance. The point is that poor people suffer by requiring loans.
Do some research on payday loans and car-title loans. These are some extremely exploitative lenders taking advantage of people who aren't able to make ends meet.