You are hereMany people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should therefore be made more difficult for individuals to borrow large amounts of money. What are your opinion on this?Give reasons for your an

Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should therefore be made more difficult for individuals to borrow large amounts of money. What are your opinion on this?Give reasons for your an


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By dawnsagar - Posted on 25 March 2013

Essay topic: 

Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should therefore be made more difficult for individuals to borrow large amounts of money. What are your opinion on this?
Give reasons for your answer and include any relevant examples from your own knowledge and experience.

Recently, there has been considerable discussion of the large personal debts and loans withdrawn by people which cannot be repaid. The implication of this has led some to claim that huge borrowings should be strict but some think it's unfair to do so. I am not in complete accord with the statement but I shall compare and contrast both views first.

On one hand, some think that there must be a strong barrier when the huge amounts are loaned to public. One of the reasons for this idea is to prevent the monetary company from high bad debts, which could lead to bankruptcy. Preventing the unwanted loan could help the bank and other financial companies to grow financially and also helps the country's economy to flourish.

However, there could be a disagreement on the other hand. Credit cards and loans are the special facilities given to the people which helps them to do their daily transactions as well as to run big projects and business at the same time. This undoubtedly helps them to create income.

Moreover, credit cards can be used in several areas, to pay student loans, for instance. It also serves as an emergency tool in case of any accident or hazards. For use of such loans, banks also charge interest which is income for them.

After analyzing the facts, I tend to believe that there shouldn’t be hassled to get credit cards and loans because it serves as a helping hand in public. Although, it can’t be denied that some of the people may be unable to repay it, I suggest the financial institution to make a proper policy such as keeping the collateral or other financial documents before providing loan.

Average: 7.7 (10 votes)
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No. of Words: 286 350
No. of Different Words: 170 200

Attribute Value Ideal
Score: 6.5 out of 9
Category: Good Excellent
No. of Grammatical Errors: 0 2
No. of Spelling Errors: 0 2
No. of Sentences: 14 15
No. of Words: 286 350
No. of Characters: 1312 1500
No. of Different Words: 170 200
Fourth Root of Number of Words: 4.112 4.7
Average Word Length: 4.587 4.6
Word Length SD: 2.425 2.4
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No. of Words greater than 6 chars: 57 80
No. of Words greater than 7 chars: 38 40
No. of Words greater than 8 chars: 24 20
Use of Passive Voice (%): 0 0
Avg. Sentence Length: 20.429 21.0
Sentence Length SD: 8.296 7.5
Use of Discourse Markers (%): 0.643 0.12
Sentence-Text Coherence: 0.312 0.35
Sentence-Para Coherence: 0.602 0.50
Sentence-Sentence Coherence: 0.084 0.07
Number of Paragraphs: 5 5