Knowledge Tree
Relations (1)
related 2.32 — strongly supporting 3 facts
Unsecured debt and high-cost loans are linked through public policy discussions, where experts and organizations like the APHA propose addressing both issues simultaneously by reducing the demand for high-cost loans and providing safe alternatives to manage unsecured debt [1], [2], [3], and [4].
Facts (3)
Sources
The Impacts of Individual and Household Debt on Health and Well ... apha.org 3 facts
perspectivePublic policy options to address high-cost loan demand include reducing the demand for high-cost loans, increasing the availability of safe low-interest loans with reasonable repayment terms, and providing public benefits to lower the demand for unsecured debt.
perspectivePublic policy experts suggest that reducing the demand for high-cost loans, providing safe low-interest loans, and increasing public benefits are more effective strategies for managing unsecured debt than legalizing payday lending.
perspectiveThe American Public Health Association (APHA) suggests that instead of legalizing payday lending, public policy should focus on reducing the demand for high-cost loans, increasing the availability of safe low-interest loans with reasonable repayment terms, and providing public benefits to lower the demand for unsecured debt.