Personal financial problems

thumb|upright=2|Unemployment rate, 2021

thumb|right|Payday loan businesses lend money to customers, who then owe a debt to the payday loan company.

thumb|right|200px|Businesses that file for bankruptcy may have a "store closing" sale to liquidate their stock, such as this Drug Fair. Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

thumb|Erik Henningsen's painting Eviction held by the [[National Gallery of Denmark.1892]] thumb|Royal Irish Constabulary|RIC and [[Hussars at an eviction-Ireland 1888]] thumb|250px|Two men with children, being evicted, stand with their possessions on the sidewalk, circa 1910, on the Lower East Side of [[New York City.]]

prison for people who are unable to pay debt

unemployment among young people who aren't at school anymore

thumb|right|200px|In 2014, university graduates from the U.S. were often unable to find a job requiring a degree; 44% could only find service jobs such as barista positions that do not require postsecondary education. Underemployment is the underuse of a worker because their job does not use their skills, offers them too few hours, or leaves the worker idle. It is contrasted with unemployment, where a person lacks a job at all despite wanting one.

period immediately after the deadline for an obligation during which a late fee is waived

subclass of fee

when people are without work and actively seeking work, and are willing to work at the prevailing wage but still unemployed