Great Britain was left with financial disaster following the Seven Year War. To raise money following the war they tried to impose high taxes on the colonies. This was done through the taxes charged on goods that were being shipped to the colonies. Without representation in the British Parliament Great Britain felt that this was the perfect plan.
The French and Indian war created the debt. The British expected that American colonists to repay it to Great Britain during the 1760's.
England needed money to pay debt England needed money to pay debt
Parliment raised taxes after the war because they had a huge war debt they had to pay off. Therefore the riased taxes had an increase in tax revenue.
no they hated them
After the French and Indian War (1754-1763), Britain had accumulated a massive debt. In order to offset this debt, Britain decided to tax the colonies, stating that the colonies owed them money for their protection during the wars.
To repay a large debt :)
The French and Indian war created the debt. The British expected that American colonists to repay it to Great Britain during the 1760's.
When you owe a bank money and are unable to repay the debt, the bank may take legal action to recover the money, such as seizing assets or taking you to court. This can negatively impact your credit score and financial future.
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
England needed money to pay debt England needed money to pay debt
Well England aka gret Britain had debt for the french and Indian war
Sell their crop and pay with the money they earned from the selling.
It depends on the situation. In many cases they can take you to court and get a judgement against you. That would allow the bank or other institution to seize your property ( house, cars, etc.) and sell them to raise money to repay the debt. They could also garnish your paychecks.
Debt is money owed by one party to another, while a loan is a specific type of debt where one party borrows money from another with an agreement to repay it with interest.
no tax policy
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow