What is a bad debt and will it affect my finances?

Bad debt is a term used to describe something purchased with a form of credit and the purchaser is unable to pay off the amount spent. Generally, the item purchased decreases in value. Examples are using a credit card to pay for a vacation, and not paying the balance back on the credit card bill.

Also, if you acquire a loan to purchase a car, and not paying back the amount of the loan. Both good debit and bad debt will show on your credit report. Your credit history helps financial services determine if you are worthy of being financed.

Having good credit will help you get a loan. Bad credit will show up negative on your credit report, preventing you from obtaining loans, and possibly having a harmful effect on your finances. Payment history affects your credit the most.

Making payments on time is the best thing you can do to keep your credit in good standing. Source(s): ehow.com/about_4574557_what-bad-debt.html moneyover55.about.com/od/managingdebt/a/....

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.