Thursday, May 2019
Now Reading:
Preventing Suicides Through Loan Lifelines
Full Article 4 minutes read

Preventing Suicides Through Loan Lifelines

“The factors that have caused 200,000 suicides in India are rooted in the policies of trade liberalization and corporate globalization which ensnare farmers in a spiral of indebtedness, generating despair.” Thus, goes one headline. This is not an isolated case but repeated globally where the farmer cannot get enough help from the government or deputized agencies.

Let’s look at some root causes, not only the outcome…

Why Suicide Over Debt?

In the case of farmers in India, corporations prevent seed savings through patents and by engineering seeds with non-renewable traits. As a result, poor peasants have to buy new seeds for every planting season and what was traditionally a free resource, available by putting aside a small portion of the crop, becomes a commodity. This new expense increases poverty and leads to indebtedness.

This is not an isolated case but happens everywhere among farmers of every race and creed.

Carrying a large amount of debt may hardly bother one person, but could easily cause another person to fall into despair and consider taking his or her life (e.g., someone who was used to having money and suddenly is bereft of cash through a series of unfortunate events). Following Wall Street’s crash in 1929, for example, stories proliferated of people taking their lives because of their financial ruin.

Daniel J. Reidenberg, a psychologist and executive director of Suicide Awareness Voices of Education (SAVE), says, “When someone is suffering from depression, their brain doesn’t think logically or rationally, so they’re not able to consider options. They’re not able to find resources. They’re not able to get out of bed let alone make a phone call.”

Fortunately, there is help available
  • You cannot turn around someone who is bent on suicide unless you give him a “lifeline”, something he can cling on to turn around his life.
  • Here is one lifeline – AssetStream Microfinancing Platform. Imbibe the concept from the whitepaper and be ready to offer enlightenment to one despondent over dim financial prospects.
Debt Relief from AssetStream

AssetStream is an online peer-to-peer microfinance platform which serves as an intermediary between borrowers who want to avail of a loan for their business, and investors who want to earn potential high returns of their money.

Borrowers are small and medium-sized enterprises that have an existing business infrastructure. Borrowers choose AssetStream because it offers an easy online application and flexible rates. Borrowers will undergo a KYC, Due Diligence, Credit review process including but not limited to the documentary requirements submitted.

A qualified borrower is someone with an existing business infrastructure who has a good moral character and is aware of his/her financial obligations.

What else is being done?

On the other hand, you can also become a “lifeline” by being a lender. You need to be at least 18 years old to participate. All nationals are eligible. Sign up for the ASSETSTREAM platform. Verify your email. Complete your KYC. Create your WALLET. Enable 2FA. Purchase ASD with your selected cryptocurrency. Get AST token with ASD.

To mitigate risk, lenders are not allowed to invest 100% of their money on a single loan. Instead, they need to diversify across several loans. A maximum threshold of 10% of their money can only be invested in a single borrower.

There Is Life After Debt

No matter what your situation is, it’s important to have faith and understand that we all go through seasons in life. We have high points and we have low points. Sometimes the storm lasts longer than you would have hoped, but the key is to seek out help.

If you are reading this or searched for help online and found this post, I want you to do abandon any suicidal thoughts and promise me that you’ll do a few things to get back on the right track.

Everyone has a role to play in preventing suicide. Choices we make today can help prevent suicide. Choose to be financially viable through AssetStream and be a factor in redirecting people’s lives towards productivity and hope.

Input your search keywords and press Enter.
Secured By miniOrange