MONEYLENDING, GOOD OR BAD ?

When done responsibly, moneylending can provide crucial financial support, helping people to start businesses, buy homes, or manage emergencies. Ethical lenders operate transparently, charge fair interest rates, and ensure borrowers fully understand the terms.Problems arise when lenders exploit borrowers. Predatory lending involves high-interest rates, hidden fees, and aggressive collection practices, often targeting vulnerable individuals. This type of lending can lead to a cycle of debt that is hard to escape. Borrowers also need to approach moneylending responsibly. Understanding the terms of the loan, assessing their ability to repay, and avoiding loans with exorbitant interest rates are crucial steps in protecting oneself from falling into a debt trap.

In summary, moneylending itself isn't inherently bad; it's the practices surrounding it that determine its impact. Ethical lending can be beneficial, while predatory practices can be harmful and exploitative.