Debt Trap by https://padlet.com/josenkurianjose/spqz9minw6gkm4xw Josen Kurian Jose & Ashiline Joseph en-us 2020-11-30 08:58:21 UTC 2026-01-16 19:08:50 UTC hello@padlet.com Debt Traps josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970478497 Hi, here you will be analysing and viewing more about debt traps. As we know debt traps are one of the biggest issue that Canadians face today. here you will see what is debt trap, how can we avoid it and details about the main debt trap which is credit card trap.]]> 2020-11-30 09:03:40 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970478497 Video #1 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970486438 In this video we can see the details and facts about the Canadian debt traps.  The economists and bankers clearly say that it is dangerous to continue in this numbers. It is said that 2 trillion id debt that Canadians owe, and it is up by 4 percentage. It I also said that for every dollar Canadian earn that owe 1.69 dollar

We chose this video because this provided great values and facts about the Canadian debt. It is good to have great and supporting facts on each topic. So this video provides great data and facts about debt traps.
]]> 2020-11-30 09:06:00 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970486438 Video #2 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970504299 This video says the facts and details and real-life examples who has been affected by the debt traps due to the effect of coronavirus. There are so many people who are not getting CERB and they are not having any income. So, these people are facing great crisis and are in the path of debt traps due the lack of income to pay bills and thereby the credit card bills are becoming more and more. This is being faced by millions of Canadians

This video has great importance because of the relevance in this current situation of pandemic. (Covid- 19)

]]> 2020-11-30 09:14:18 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970504299 Video #3 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970515969 This video greatly explains about the main debt trap that is the credit debt trap created by the financial institutions around an individual. this video provides great information to the immigrants who are mainly unaware about most of the facts regarding the debt trap the financial institutions tend to make through the credit card offerings.

We choose this video because it provides great information about the debt tarp created by the institutions by providing more and more credits to the individual and thereby, making them as their slave surrounded by the credit card debts.

]]> 2020-11-30 09:19:45 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970515969 Video #4 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970537602 In this video they speak about the Canadas personal debt crisis, this video says about the fact about the household debt and financial crisis the Canadians face. The personal financial crisis of Canadian is lot more. there is a 2 trillion debt for households and that means each Canadian household owes 53000 dollars. This is a very big number. Also, this video details about how to break the debts by effective handling if credit cards.

This video provides important information with regard to avoid debt traps and to overcome the financial crisis of individuals and households.
]]> 2020-11-30 09:29:20 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970537602 Website #1 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970557900 This site provides details about what a debt trap is and how to avoid those debt traps. Debt traps are when we cannot pay what we owe to someone. In this site they explain deb rap with examples and in very precise manner. The site also clearly mentions different points for avoiding the debt traps and is very helpful for people to avoid the traps. It also contains information regarding why to avoid debt traps.

We choose this website because this site has good information and content regarding debt traps, examples, why and how to avoid the debt traps.

]]> 2020-11-30 09:38:02 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970557900 Website #2 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970575559 this site clearly explains the one the main path that leads to debt trap among Canadians which is the credit card debt trap. This site says that facts relayed to why the Canadians gets attracted to the credit cards and why they are depending the credit card institutions to pay their bills and expenses. This site also mentions hoe these credit card institutions lead these individuals to the credit card debt trap.

We choose this site because this site contains information related to the credit card traps and then lead to debt traps in very precise manner with real life examples.

]]> 2020-11-30 09:45:56 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970575559 Website #3 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970587827 This site sates about the fact that most o the Canadians fear about debt traps and insolvency. The surveys conducted and the results that came out through the surveys points out that more than 30% of the Canadians fear about bankruptcy. This site also mentions about the details on how the banks and financial institutions traps the individuals and then lead them to the traps by increasing the interest rates.

We choose this site because of the fact that they provided with related to the number of people who fear bout these debt traps and the facts related to rising interest rates.

]]> 2020-11-30 09:51:44 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970587827 Website #4 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970589788 This website provides a clear real life example of a lady who bought house by lending loams and ho she was trapped by the credit card institutions by helping her to pay the interest of the loan and thereby leading her to the ultimate trap of debt . 

We choose this site because it is good to provide the topic with a real life example and how one will slowly get trapped into debts by owing more money to credit card institutions and banks to pay off their interest and bills.

]]> 2020-11-30 09:52:35 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970589788 Image #1 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970611599 The first picture shows how more and more debts actually lead to trap. It is an excellent symbolic representation for debt traps that clearly depicts that debts are traps. 

]]> 2020-11-30 10:02:33 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970611599 Image #2 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970612101 The second picture clearly shows the data of debts owned by Canadians by the different provinces of Canada. We can see that the numbers are high in most of the provinces, especially Ontario.

]]> 2020-11-30 10:02:49 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970612101 Question #1 josenkurianjose https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970637972 What did you learn about your topic that surprised you the most?

The thing that surprised us the most is the fact that the traps that financial institutions put up on an individual by providing more and more credits and thereby making them as their slaves. This was surprising to us. Also, the fact that most of the Canadians are worried about these were also surprising

Question #2
Provide a real-life example of how this topic is relevant or interesting
for you.

This topic is of great importance as I have seen many immigrants especially our friends who came here as international students and are on work permit who struggles to pay off the credit card bills and ultimately falling to debt traps.

Question #3
If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

The information that we would like to pass to our family member of friend is that do no fall for the credit cards and should pay of the credit card bills as soon as possible without delaying it as this is the very first and easiest manner to be trapped into debt.



]]> 2020-11-30 10:14:13 UTC https://padlet.com/josenkurianjose/spqz9minw6gkm4xw/wish/970637972