When media and researchers write about debt, we tend to talk in aggregate numbers: “50% of this”, “a third of that”. This reflects the statistical reality of consumer credit and credit extension, but it begins to subsume the personal side, and finances and consumer credit is inherently personal. People use credit to buy the homes they live in, send their children to school, finance the car they need to get to work, and they take a payday loan to keep their family’s heads above water when the money runs out before the month does. These are a few of the personal stories of debt and collections that we have encountered during our research.
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