SOCY101 IN DEBT WE Trust PDF

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ANSWER SUBMISSION IS A MUST...

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Questions to Answer:

1. Discuss the high cost of being poor. Answer: I think the high cost of being poor is that poor people are honest; most of them think that they should repay their debts which confirm poor people paying the higher interest rate to repay their debts.

2. How do poor people end up paying a lot of money just to get their money? Answer: Poor people end up paying a lot of money just to get their money instantly because the lenders allow them the money with higher interest rate which made borrowers paying a lot of money than they borrowed.

3. How do corporations arguably profit more from poor customers than from middle income or wealthy consumers? Answer: Corporations arguably profit more from poor customers than from middle income or wealthy consumers because poor customers do their tax filling with the companies like H & R Block, Liberty Tax Services, Jackson Hewitt Tax Service for instant cash which are all located in low income communities and those companies basically working as a broker for the large corporations.

4. What obstacles prevent getting lower income from getting out of debt? Answer: Higher interest rates and foreclosures are two of the main obstacles prevent getting lower income from getting out of debt because they have to pay way more than they borrow.

5. What systematic changes might help low income people improve their economic status? Answer: I think equality on interest rate might help low income people improve their economic status....