Part one of term paper
The reasons we as Americans buy on credit varies, but without it most of us would probably never be able to purchase necessities such as a home or automobile. The nation's economy depends on credit, the promise to pay later for goods and services used today; but along with consumer credit comes consumer debt. With the rise in telemarketing a ...

Part two of term paper
... consumers could not afford to purchase items such as a home. The truth of the matter is that we, as Americans, tend to want to purchase more than we can afford to purchase when we want it. But, we can afford to pay it out, over time, in fixed payments. Mortgages, a debt owed on real property, are the latest form of installment debt. Other forms include automobile loans and credit card purchases. Just pick up the newspaper any time after Christmas and you will find articles on managing your mounti ...