Let’s dive into why it’s important to pay off old debts, set a plan for getting out of debt, and ultimately shifting your life to a position of avoiding bad debts where possible.
In most countries, financial institutions operate in a heavily regulated environment. As critical parts of countries' economies, those economies depend on them to grow the money supply. Regulatory structures differ for each country. Typically, these involve prudential regulation as well as consumer protection and market stability. Some countries have one consolidated agency that regulates all financial institutions. Other countries have separate agencies for different types of institutions. These include banks, insurance companies and brokers.