The textbook cites a study where students with over $1,000 of credit card debt also had all except Unhealthy eating habits.
- When a customer of a credit card firm uses the card system to make a purchase of a good or service, credit card debt is the result. When a customer doesn't pay back the business for the money they've spent, interest and penalties start to accumulate, which increases the amount of debt.
- Another example of a debt that typically has no alternatives for forgiveness is credit card debt. Credit card providers often expect you to repay the money you borrow, and if you don't, your debt could end up in collections. As a result, it's doubtful that you will be able to get your credit card debt forgiven.
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