The fairly obvious ways to get trapped into bank debt are discussed here, take a look.
Bank debts are your gateway to a never-ending cycle of payments and repayments, you get indebted for life. There are multiple ways to tie one person into a cycle of bank debts that they will be left off to pay all their lives and the sad fact is, even after knowing all of this, we still fall for it. And there are many ways to fall for it, here are a few examples:
You are a slave to the bank and work for banks if you have student debts. The years will pass and decades will come and grow but what will stay all the same is your student loan.
You are a slave to the bank and work for the banks if you have medical loans. Once falling sick will get you into a poverty cycle if you have to take a bank loan to pay off your medical bills.
You are a slave to the bank and work for the banks if you have vehicle loans. How many years will your vehicle last, maximum fifteen or twenty years, but your vehicle loan will last for life.
You are a slave to the bank and work for the banks if you have credit card debt. No matter what you buy out of your credit card, the payments never seem to be enough and you are always trapped into the debt cycle. There is just no way around it. Once you use your credit card, it’s debt that will last forever.
If you have consumer debt, you work for the banks. In spite of the fact that they are the ones who created a system where it is mathematically impossible for the majority of people to not be in debt, banks love to humiliate individuals for having debt. This is the reality and you have to live with it.
The final consequence is a country of debt slaves working tirelessly to repay false credit with real money and real interest—even if there isn't enough of either to cover what we all owe—while there isn't enough of either to pay it off. Isn’t that the irony of our times, paying off with our blood and sweat, our hard earned money for the money that never existed in the first place.
