Credit Card debt.

CTT_2

After reading various articles in todays papers regarding credit card debt, papers seem to lay the blame firmly at the doors of the lenders. However I feel if someone is foolish enough to spend to the limit on their cards and no thought of the consquences they are acting very irresponsibly. It seems to me that if in financial difficulties go bankrupt. We all have to be accountable to ourselves and stop blaming everyone else for our downfall.
I know some people who are unfortunate to lose their job may say it is not my fault I can not repay my debts. I agree with that BUT we all need to prepare for the unexpected and after all anyone borrowing money is gambling on the future that they will be able to repay the debt.

michaels

Sadly this seems to be the culture that is now imposed from school onwards - nothing is the individuals fault, it is the advertiser or society or 'a disorder', rather than personal irresponsibility or greed or laziness that is to blame.

phil-99

CTT wrote:

After reading various articles in todays papers regarding credit card debt, papers seem to lay the blame firmly at the doors of the lenders. However I feel if someone is foolish enough to spend to the limit on their cards and no thought of the consquences they are acting very irresponsibly.

That's a very simplistic way of looking at it. It's like saying that "well, you all know that if you drink you'll get a hangover", but we do it sometimes.

When you're young, you may not appreciate what it is you're doing. I know when I was young and making more money than I had ever had, I thought nothing of putting things on HP, taking out a higher and higher overdraught - rather than considering why I needed more money and where I was going wrong it was easier to take on yet more debt, without understanding the true consequences of it.

pin

phil-99 wrote:

That's a very simplistic way of looking at it. It's like saying that "well, you all know that if you drink you'll get a hangover", but we do it sometimes.

When you're young, you may not appreciate what it is you're doing. I know when I was young and making more money than I had ever had, I thought nothing of putting things on HP, taking out a higher and higher overdraught - rather than considering why I needed more money and where I was going wrong it was easier to take on yet more debt, without understanding the true consequences of it.

Yes but was that the HP companies, banks or credit card's fault or your own?

HelenR_3

pin wrote:

Yes but was that the HP companies, banks or credit card's fault or your own?

the individuals fault , but we cant all be sensible , frugal whatever , and there needs to be more advice/help/barriers even , every ones different and most humans make many mistakes , involving money more often than not.

CTT_2

phil-99 wrote:

That's a very simplistic way of looking at it. It's like saying that "well, you all know that if you drink you'll get a hangover", but we do it sometimes.

When you're young, you may not appreciate what it is you're doing. I know when I was young and making more money than I had ever had, I thought nothing of putting things on HP, taking out a higher and higher overdraught - rather than considering why I needed more money and where I was going wrong it was easier to take on yet more debt, without understanding the true consequences of it.

Well do hope you have learnt something from your fool hardy ways and perhaps others can benefit from your experience.

pin

Without sounding like a right wing politicition (sp?) there seems to be such a strong "blame culture" in this country. No-one wants to take responsibility for their own actions and try and pass the buck onto someone else.