Unraveling Youth Indebtedness in China: A Case Study Based on the “Debtors Avengers” Community on Douban

Over-indebtedness is an increasingly serious issue among young people in China. Using Atlas.ti, this study analyzes textual data from the online community “Debtors Avengers” on Douban.com, applying a combined framework of life cycle and credit liberalization hypotheses. The findings reveal that youth indebtedness is not solely driven by irrational consumer behavior but is closely linked to economic activities during specific life stages. Structurally, it reflects sociofinancial digitization and normalized credit use. Factors such as life circumstances, financial literacy, labor market instability, and public safety risks contribute to a “debt spiral”. Addressing these challenges requires the refinement of financial policies, enhanced education, and intervention in financial aggression.