Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should, therefore, be made more difficult for individuals to borrow large amounts of money.
What are your opinions on this?
There is no doubt that everyone wishes to buy properties, cars by using cash, unfortunately not everyone can afford to pay lump sum amount of money. Therefore, in my opinion the restriction of borrow large amount of money should depend on case by case, the restriction should not apply to all cases. Hence this essay will discuss on both consequence and needs.
To begin with, specifically on the topic loan Bank’s law, regulation and polices are established for the reasons. In the bank perspective to lend out large amount of money they will have to follow their own procedure in order to protect themselves. For instance, they will have credit assessment team to do analysis on customer’s ability to pay back loan take for an example they will check on client income and bad debt, check on background and etc… if bank just loan out big amount of money to unqualified customers whom unable to repay back, bank will face the phenomenon of bank run. Bank run in this circumstance means bank not able to maintain deposit on hand as cash. For example, in the year of 1999 bank run occurred in Malaysia it’s when central bank need to step in and take control on the situation, this incident happened due to borrowers are not able to repay back their finance.
On the other side, credit facilities are playing crucial role on civilian who need large finance to support them. For instance, to purchase 1 house it cost around RM 200,000 if he need to purchase by cash he need to save for 35 years only can buy 1 house. The credit facility should give to potential customer who are able to payback their loan, without financing from bank people will not have chance to enjoy their living till their retired time. If the bank to strict they will lose potential customer which lead to lose bank profit.
In conclusion, there are many pros and cons on borrow money, bank have to make sure that they lend money to the right person, if they lend to wrong people it might lead to economy crisis like Malaysia in 1999.
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Grammar and spelling errors:
Line 2, column 301, Rule ID: SENT_START_CONJUNCTIVE_LINKING_ADVERB_COMMA[1]
Message: Did you forget a comma after a conjunctive/linking adverb?
Suggestion: Hence,
...triction should not apply to all cases. Hence this essay will discuss on both consequ...
^^^^^
Line 6, column 450, Rule ID: SENTENCE_FRAGMENT[1]
Message: “If” at the beginning of a sentence requires a 2nd clause. Maybe a comma, question or exclamation mark is missing, or the sentence is incomplete and should be joined with the following sentence.
...y their living till their retired time. If the bank to strict they will lose poten...
^^
Line 8, column 211, Rule ID: WHITESPACE_RULE
Message: Possible typo: you repeated a whitespace
Suggestion:
...o economy crisis like Malaysia in 1999.
^^^
Transition Words or Phrases used:
hence, if, so, therefore, for example, for instance, in conclusion, no doubt, in my opinion, to begin with
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 6.0 13.1623246493 46% => More to be verbs wanted.
Auxiliary verbs: 17.0 7.85571142285 216% => Less auxiliary verb wanted.
Conjunction : 6.0 10.4138276553 58% => More conjunction wanted.
Relative clauses : 7.0 7.30460921844 96% => OK
Pronoun: 24.0 24.0651302605 100% => OK
Preposition: 66.0 41.998997996 157% => OK
Nominalization: 11.0 8.3376753507 132% => OK
Performance on vocabulary words:
No of characters: 1677.0 1615.20841683 104% => OK
No of words: 358.0 315.596192385 113% => OK
Chars per words: 4.6843575419 5.12529762239 91% => OK
Fourth root words length: 4.34981470047 4.20363070211 103% => OK
Word Length SD: 2.45547885838 2.80592935109 88% => OK
Unique words: 195.0 176.041082164 111% => OK
Unique words percentage: 0.54469273743 0.561755894193 97% => OK
syllable_count: 513.0 506.74238477 101% => OK
avg_syllables_per_word: 1.4 1.60771543086 87% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 2.0 5.43587174349 37% => OK
Article: 2.0 2.52805611222 79% => OK
Subordination: 2.0 2.10420841683 95% => OK
Conjunction: 0.0 0.809619238477 0% => OK
Preposition: 8.0 4.76152304609 168% => OK
Performance on sentences:
How many sentences: 13.0 16.0721442886 81% => Need more sentences. Double check the format of sentences, make sure there is a space between two sentences, or have enough periods. And also check the lengths of sentences, maybe they are too long.
Sentence length: 27.0 20.2975951904 133% => The Avg. Sentence Length is relatively long.
Sentence length SD: 71.9277250658 49.4020404114 146% => OK
Chars per sentence: 129.0 106.682146367 121% => OK
Words per sentence: 27.5384615385 20.7667163134 133% => OK
Discourse Markers: 8.15384615385 7.06120827912 115% => OK
Paragraphs: 4.0 4.38176352705 91% => OK
Language errors: 3.0 5.01903807615 60% => OK
Sentences with positive sentiment : 5.0 8.67935871743 58% => More positive sentences wanted.
Sentences with negative sentiment : 5.0 3.9879759519 125% => OK
Sentences with neutral sentiment: 3.0 3.4128256513 88% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.224463650178 0.244688304435 92% => OK
Sentence topic coherence: 0.0778459825245 0.084324248473 92% => OK
Sentence topic coherence SD: 0.0472646741818 0.0667982634062 71% => OK
Paragraph topic coherence: 0.137520598323 0.151304729494 91% => OK
Paragraph topic coherence SD: 0.0348896762751 0.056905535591 61% => OK
Essay readability:
automated_readability_index: 14.4 13.0946893788 110% => OK
flesch_reading_ease: 60.99 50.2224549098 121% => OK
smog_index: 3.1 7.44779559118 42% => Smog_index is low.
flesch_kincaid_grade: 11.5 11.3001002004 102% => OK
coleman_liau_index: 10.16 12.4159519038 82% => OK
dale_chall_readability_score: 7.89 8.58950901804 92% => OK
difficult_words: 66.0 78.4519038076 84% => More difficult words wanted.
linsear_write_formula: 11.0 9.78957915832 112% => OK
gunning_fog: 12.8 10.1190380762 126% => OK
text_standard: 11.0 10.7795591182 102% => OK
What are above readability scores?
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Rates: 73.0337078652 out of 100
Scores by essay e-grader: 6.5 Out of 9
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.