Household Debt In Small And Mid-Sized Cities Of America

Abstract

Of the manifold problems that low income households wrestle with in their everyday lives the most worrisome is the household debt problem. It is double edged-the debt is unavoidable-but the inadequate income renders the households unable to service the debt efficiently. This makes them psychologically depressed and liable to the constant anxiety and gnawing. And the concern of the household regarding their failure to keep creditors satisfied involves constant anguish, restlessness and lack peace of mind.