Bank Credit as a Savior in the Family: The Effects of Credit Utilization on the Family System

In a period where excessive consumption is encouraged by global markets, a person who is burdened with debt is exposed to more frequent problems in fulfilling the debt obligation. This problem is deepened by the burden of interest, and the stress caused by this situation directly affects family relations. In the debt relationship established with the bank, every failure in loan repayments leads to violence, incompatibility, divorce, suicide, and mental health problems within the family, and public health deteriorates gradually. This danger is particularly pronounced in middle-and lower-income groups, as these groups, with limited wealth and accumulated capital, are more likely to fall into a debt spiral compared to other higher income groups. This study aims to elaborate on the multidimensional impact of bank loans, which middle-and lower-income family members apply to overcome their financial difficulties, on the family system over time. In this sense, the study compares the roles in the family and the wellbeing of intra-family communication before the first contact with the bank loan with the change in these roles and relationships after the use of the loan. The study compares the findings from the interviews with the hypothesis that although bank loans provide short-term solutions to overcome difficulties, in the medium and long term, the family system is adversely affected by the stress of indebtedness and loan repayment. The sample consists of 24 married, divorced or separated adult individuals. The inclusion criterion was that the participants had applied for a bank loan at least once, especially for consumption, personal or vehicle loans. Investment loans were excluded from the scope of the study. During the data collection process, data were collected through semi-structured interviews. The data obtained by transcribing the audio recordings were analyzed by descriptive analysis method. The study evaluates and conveys the results with 15 different codes and 4 different themes. At the point where the data reached saturation and new data repeated the previous ones, the data collection process was stopped. According to the results obtained from these themes, it is observed that a significant portion of the participants applied for new loans in order to repay their existing debts or to pay off previously taken out loans. Based on the religion factor that emerged in the second theme, the burden of interest and the inability to pay the loan debt on time led to the failure of the planned business and further deterioration of the family's financial situation. This embodies the concept of "lack of abundance" expressed by the participant and leads to a situation of reduced productivity, peace and satisfaction. In the next theme, it was frequently mentioned by participants that debt stress leads to significant changes in family dynamics and relationships. In this context, arguments between spouses, pressure on children and loss of overall family peace can be considered as consequences of financial stress and pressure. Similarly, the fourth theme explains that the stress of debt in loan repayment, combined with social and material conditions, worsens family relationships.