Why so much prejudice against those in debt?

Deeperblue

I've lurked around this forum for years and dip into most areas on it and it amazes me the amount of flack those in debt get on the other boards. I don't post in some of them because of the figures I keep in my signature and I know the response I would get.

Where do such negative attitudes come from? Am I blamed for the current economical problems in the country? Are people with savings resentful that the BOE decision not to increase the BR benefits me but not them?

Me and my husband work hard, only get basic child benefit, pay all our taxes and we acknowledge that our debt is ours to pay off, which we are doing... whats the problem exactly? :think:

secretshopper75

Deeperblue, I wish I knew, I agree it's our debt and althought we shouldn't got into the mess we have we are trying to sort it out and own up to our responsibilities..unlike some such as the banks and the government

BlueBanana_2

Hi Deeperblue,

I think it's the same thing as unemployed people being labelled "scroungers" by some. I've been unemployed and my job is currently "at risk", so I know it isn't like that at all.

Debt's the same. People should be less judgemental, IMO. It's easy for people who have lots of savings to say that you shouldn't get into debt but things break (boilers for example) and they are expensive to fix. And I don't have the kind of money plumbers charge lying around the house :eek: Plus our central heating is the most unreliable thing on the planet.

I reckon everyone should be a little bit more understanding in these really tough times because the recession is going to affect everyone in some way.

Hermia

Deeperblue wrote: »

Me and my husband work hard, only get basic child benefit, pay all our taxes and we acknowledge that our debt is ours to pay off, which we are doing... whats the problem exactly? :think:

I think it's just that the people who don't have your attitude of acknowledging that it's your own problem have led to everyone being tarred with the same brush. I also think the people who got into debt through being completely reckless with money have also led to everyone being tarred with the same brush. I know quite a few people who have been living a dream lifestyle that they couldn't afford and are now in huge debt. What has caused huge resentment is that they boasted about all the lovely things they had when times were good which is obviously going to grate on someone who is living within their means. Now, they are whinging about their debt and how hard life is. Which again is going to annoy all those people who have been living within their means. Unfortunately those sort of people stick in your mind and perhaps lead to people forgetting that other people are in debt for other reasons.

climbgirl

Hermia's right - the actions of a few cause a lot of resentment from people who have saved and kept themselves in good financial shape. And although they shouldn't, those feelings get applied to everyone in debt, no matter the cause.

There was a woman in the daily mail today who had got herself into a lot of debt by buying a house and car she couldn't afford and then being made redundant (making things worse). I know the mail print stories like these just to wind people up, but it is incredibly irritating to read stories of irresponsible spending when you're doing your best to avoid that.

And it does have an impact on the economy and the responsible savers - I'll be honest, I hate it that the interest rates are so low when I've worked so damn hard to get myself into a position where I have savings!

Anyway. I try not to judge people who are making an honest effort to deal with their debt. There are a lot of people out there in debt through no fault of their own and that's unfortunate.

But I find it very hard to not lose patience with people who are in debt because of reckless spending and won't give up luxuries to get out of it.

chesky369

I’ve been on both sides of the fence. When I was bringing up my children on my own when my marriage packed up in the 80s, I got into debt and it took me ages to get myself back on my feet again. So I’m not unsympathetic, it can happen to anyone and there are well-known triggers, like losing your job or illness or relationship breakdown.

Nowadays, since I retired, I’m a debt adviser with DAB and am – I hope – sympathetic and helpful to everyone I see and 99 times out of 100 it’s really rewarding and you do feel that you're helping and really making a difference. But every now and again you get a complete idiot who doesn’t really see why he should change his lifestyle (or her, etc) and you know they’ve only come to you because they’ve come up against a problem they can’t see their way around and as soon as you’ve sorted that out (bailiffs, notice for possession of property, etc.) they’ll disappear for another couple of years and turn up again when their backs are up against the wall again. And you’ll have to sort it out for them again, knowing it’ll do bu---er all good.

And unfortunately, these are the ones that you remember.

chesky369

.........that's CAB ..............

Deeperblue

I appreciate it's difficult when your giving up a lot of luxuries to get rid of your debt and others don't see why they should.

I get the impression that those who are so judgemental are from an era when credit wasn't easy to obtain so you just couldn't get into debt. I'm sure if there had been easy access credit cards available then, as there are now, this spike in debt problems would have come a generation earlier. My parents talk about shivering in a freezing cold house because they simply had no money to feed the meter... I doubt people would do that nowadays if they have the option of an overdraft. Living through times like that really taught my parents the value of money and as such they are very thrifty now and find overspending and getting into debt difficult to identify with I think.

NeverAgain_2

The attitude problem is with bankrupts who get away with not paying their debts.

People who struggle to repay every penny they owe do not like to see others not paying.

I am in neither category, but am a little uncomfortable with the attitude shown by a minority of the bankrupts and would-be bankrupts on here.

The twisted logic of 'it's only the bank/credit card I owe money to so it doesn't matter' is widespread.

GeorgieFTB

I'm in my late 20s and only have mortgage and student debt so I don't really belong on this board but I would far rather hang out with the Huggies or the MFW than on the savings board, all to often there is a sneer when someone is saving hard and they are modest amounts, someone will come along and say 'I could save that in a month', not helpful!

I have got, what I think is, helpful insight. I am paranoid about money because my parents were always in debt, I've seen all levels of denial and debt from my parents, and vast amounts of financial illiteracy! They have never really changed just got a get out of jail free card with HPI

climbgirl wrote: »

... I try not to judge people who are making an honest effort to deal with their debt. There are a lot of people out there in debt through no fault of their own and that's unfortunate.

But I find it very hard to not lose patience with people who are in debt because of reckless spending and won't give up luxuries to get out of it.

Thats pretty much my attitude, it sounds harsh but I hope that the reckless spenders who don't listen do come back when they have their proper LBM and it takes them that much longer to clear everything. Karma-wise that sits well with me.

NeverAgain wrote: »

The attitude problem is with bankrupts who get away with not paying their debts.

People who struggle to repay every penny they owe do not like to see others not paying...

The twisted logic of 'it's only the bank/credit card I owe money to so it doesn't matter' is widespread.

Yeah, again I kind of agree, bankruptcy looks like an easy option from the outside, but having seen someone going through it I'm not so sure anymore...

andy.m_2

I would suggest that there is no resentment to those who acknowledge and are repaying their debts.

The trouble comes from people looking for a technicality to get out of paying, those that lay the blame elsewhere and most frustratingly, those that become stroppy when they do not like the advice that is given them.

May be wrong though, often am.....