I'm scared to even read this. I hate carrying debt yet I've gotten myself (more than once) into a situation where I've carried bad debt. I am trying to only take on good debt now (debt that is used to make more money for me in the long run that I couldn't have otherwise made without the debt) but I still end up with bad debt because I'm foolish and overspend...sigh... I should probably read the article now.
This is precisely the kind of thing we need more of. Most people simply don't understand everything there is to know about loans they are signing up for.
Two main culprits in my opinion: 1) the language that is used to describe these financial products; 2) the unwillingness of businesses to take the time to explain the terms of the deal.