The media has long hacked into sms loans and has shown that these small quick loans cause many young people to fall into a debt trap. We at WiseSMS Credit hardly believe that it is so much about the high interest rate that we wrote about in our previous blog post, even though we welcome a reasonable interest rate ceiling. No, it’s more about people taking sms though they shouldn’t because sms are so easy to get.
At the same time, we do not really know whether to blame the sms lenders really, because they do not force anyone to take an sms loan. An authority should be an adult enough to take responsibility for his or her own decisions and mature enough to make the right decision. Unfortunately, not everyone does it and there is nothing you can do about it. If the state is to protect its citizens from indebtedness and debt traps by imposing bans and stricter rules, it is not just the sms that they should look at.
Stop student loans?
In 2013, almost 50,000 sms loans ended up with the chancellor, which does not sound very good, but the fact is that another 370,000 people had debts with the chancellor in 2013 and the absolute majority of these debts are not sms debt. In 2011, for example, 20,000 student loan debts ended up with the chancellor for a single year, and in 2013, 6,000 small landings had debts with the chancellor, and in Kalmar, 9% of all study debts ended up with the chancellor. This is not good at all, so it might be time to stop offering student loans, right? Would not believe it.
Ban Mobile Subscriptions?
Today, 40,000 Swedes have debts with the Corona Supervisor due to unpaid mobile phone bills. This is not so good either, so maybe you should ban mobile subscriptions and only offer prepaid cards instead?
These were just a few examples of debts that end up with the chancellor, other debts that end up with the chancellor are unpaid private loans, unpaid broadband subscriptions and unpaid installments for purchases of consumer goods. Unfortunately, it is not possible to ban everything because it would cause the economic gears to stop rolling. Sure, unpaid sms are a big problem, but that’s not the only problem and people who are irresponsible with their finances will continue to be there regardless of whether there are sms or not. It is time for us individuals to take their own responsibility and not blame CSN, the mobile operators, the sms lenders and the private lenders as soon as something goes wrong.
Please read our article where we write about what you should think before taking a sms loan and if you follow our advice, at least your debts will not end up with the chancellor.