I share the feelings you describe.
I think it’s possible to underestimate the effect that desperation has on decisions to borrow money — esp. high interest borrowing.
People know that high interest debt is bad. They also know there are worse things than borrowing money.
Sophisticated investors will borrow at disadvantageous rates to avoid a worse alternative — like an onerous margin call.
And reps sing the make-your-own-future, risk-taking-made-our-country-great song when selling predatory debt to desperate borrowers. It’s a much different experience than encountering the rigged debt collection system and the actual abusive debt collector practices.
