do you think that individuals who file bankruptcy or are over their head in debt are immoral?

Question

Do you think that individuals who have credit cards, but can not pay more than the minimum payments (which means they can not pay back that debt) or all individuals who have ever filed bankruptcy are immoral? Interesting question here. Just curious what others think?

Interesting answers. I have to agree with maxbegood on this one, as this individual has actually gone through the process. I have absolute compassion for people who are in debt, because I know what it is to be in this situation. I am working hard and will pay off all my debts one day, but unfortuneatly in this great country of ours, came credit cards and with that came close to usery limits by banks with promotional encouragement to consumers to spend more then they had, without being educated in how seriously hazardous this can be. I think it is imperitive to get kids off to the right start teaching them about money, principle and interest. There is such a huge divide in this country between the rich and the poor, and it is getting wider. I am not sure why, but I think that many people who have little money are more moral than others who make a good living. A person who has nothing, and gives a penny is more than the sacrifice of a rich man. It is biblical. Good topic though.

Answer 1

Immoral? Filing for bankruptcy was the hardest thing I ever did. People get into debt for various reasons - divorce, illness, poor money management, easy access to credit and numerous other reasons. Filing for bankruptcy involves quite a bit more than walking into a trustee's office and signing some papers. Sometimes life doesn't go according to your plans and filing for bankruptcy is usually a last resort, not a question of morality. It's not "taking the easy way out" at all. Why morality would even enter into decision to claim bankruptcy is beyond me. How easy it is to judge someone in that position; just hope it doesn't happen to you one day.

Answer 2

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RE Do you think that individuals who file bankruptcy or are over their head in debt are immoral?

Do you think that individuals who have credit cards, but can not pay more than the minimum payments (which means they can not pay back that debt) or all individuals who have ever filed bankruptcy are immoral? Interesting question here. Just curious what others think?

Answer 3

Depends how they got into debt. It's not immoral to settle with debtors (bankruptcy)

It is immoral for someone who is close to their limits to say "what the hell". They take our 3 more credit cards and max them out *knowing* they're going to be bankrupt in a few months.

It's also immoral for someone about to go bankrupt to make promises to others involving money. People don't realise that it does hurt other people if they don't feel like paying on time.... for example an irresponsible person thrown out of their home will beg a favor of a relative to rent a room knowing they won't eb able to meet their rent promises in a few months.

People need to take personal responsibility for their own debt/mistakes. It's not immoral to make a mistake but it is to take advantage of others and/or abuse bankruptcy law.

Answer 4

Immoral? In just answering, I must have flip-flopped a few times.

To borrow money and not pay it back, is that similar to stealing? If intentionally, probably. If you can't because something happened that you didn't forsee, then maybe it is not the same. If it is something a "normal" person should have forseen, then it is just foolishness. You should not have credit cards.

Rule: If you cannot pay the entire balance of your credit card bill each month, you should not have credit cards.

Answer 5

You cant know a person till you walk a mile in their shoes...unfortunately for whatever reason people w/ credit card debt dont always get consolidation loans it seems and eventually have to file bankruptcy...I guess I just feel fortunate that I and my wife find debt solutions instead of letting it get over our head...