More loans for creditors

The average debt of a single person is on the rise ever since the American banks began lending money to sub prime customers. That lending led to a large scale lending by all the banks. A majority of the people in U.S avail the loans offered by these banks. This leads to large number of people becoming creditors. The bankers are happy with this as it ensures them a steady income by way of interests from these people who availed the loans. This has led to further more spending and eventually led to more number of people with bad credit. The financial institutes are now offering bad credit auto loans which is the loans offered to the people with bad credit history. This makes the situation even worse unless people have a control on spending.