Debt Trap Quotes

Once you get into debt, it’s hell to get out. Don’t let credit card debt carry over. You can’t get ahead paying eighteen percent.

Debt is a cleverly managed reconquest of Africa

Never spend anything before thou have it; for borrowing is the canker and death of every man's estate.

As a society we should be encouraging people out of the debt-culture mindset, not promoting it.

While most of us are trying to be more frugal, the loss of a job, a divorce, or a medical emergency can quickly sink us deeply into debt.

There's one other element I just want to be sure to mention here: that is that there are 43 million young people who are locked into predatory student loan debt for whom there is no way out in the foreseeable future given the economy that we have: this predatory Wall Street driven financialized low-wage service industry economy.

Never cosign a loan. Once you have cosigned, you cannot get out of it - even on your deathbed.

As an individual who undertakes to live by borrowing, soon finds his original means devoured by interest, and next no one left to borrow from—so it must be with a government.

Private student loans should be avoided at all costs.

Debt is the prolific mother of folly and of crime; it taints the course of life in all its dreams.

Students who acquire large debts putting themselves through school are unlikely to think about changing society. When you trap people in a system of debt, they can't afford the time to think. Tuition fee increases are a disciplinary technique, and by the time students graduate, they are not only loaded with debt, but have also internalized the disciplinarian culture. This makes them efficient components of the consumer economy.

The percentage you're paying is too high priced While you're living beyond all your means And the man in the suit has just bought a new car From the profit he's made on your dreams.

When you get in debt you become a slave.

Debt is the slavery of the free.

Do not enter into an agreement you cannot afford. Take precautions to avoid institutional loans with double-digit interest rates.

In Mexico, a poor country, higher education is of quite good quality -- and is free. Ten years ago the government tried to impose small fees. There was a national student strike and the government backed down. High tuition is not an economic necessity, as is easy to show, but a debt trap is a good technique of indoctrination and control. And resisting this makes good sense.

The borrower is a slave to the lender and the debtor to the creditor.

Debt is to man what the serpent is to the bird; its eye fascinates, its breath poisons, its coil crushes sinew and bone, its jaw is the pitiless grave.

There's nothing as short as short-term debt.

In most cases, when people make more money, they get deeper in debt. This is why money alone does not make you rich.

Debt means you had more fun than you were supposed to.

A small loan makes a debt; a great one an enemy.

In January we start saving money, getting out of credit card debt, funding our retirement accounts, and we're doing wonderful. Then, every single year like clockwork, starting in November, all of you fall into this trap that says, 'I have to buy this gift... I can't show up at this party and not have something for everybody.'

A number of non-banking finance companies have entered the rural microcredit market. Many microcredit agencies have been charging interest rates not very dissimilar to those charged by moneylenders. Borrowing then becomes more to meet pressing consumption needs, rather than for farming or small-scale enterprises.

Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.