Why Do Some People Think It's OK To NOT Pay Their Credit Card Debt?

Question

I've noticed a lot of questions that go something "Do I Have Pay This Debt If ..." We all know borrowing money and not paying it back is wrong. Why do certain people think it's OK to cheat someone when that someone is a large firm? Judging by the large number of posts there seems to be a lot people who think this way. If you're one of these people, please post an answer. I would love to hear your rational.

Answer 1

alot of people have a pretty nice income and then all of the sudden something tragic happens to them financially, they then need to consider how to pay their bills and still survive. over a 10 year period my father put about 50,000.00 on personal credit cards to help a failing business that he did not own. the business was bought by investor and he still has the credit card debt they won't pay and he can not afford to pay it with the money he now earns. I don't feel like it is cheating the large firms when i consider the amount of interest he has paid (he has paid back what he borrowed plus some and he still owes more then the original amount) we have tried to negotiate but they don't do that with the layman, so what choice is there?

Answer 2

I'm not one of those people ... but I have met a whole lot of them.

I think a lot of people don't make the connection between spending with plastic and actually spending cash. Somehow, it is less "real" to them, like fake Monopoly money or something.

Also, many people these days have an "I'm so special" and "I'm entitled" mindset. It doesn't matter if you can actually afford it ... because you deserve it!

It's hard to each kids who sing the "I'm special!" song in school all day and get a prize even when they lose because "everyone is a winner!" that there are haves and have nots in the real world, and that the real work does not operate on an even-steven level.

Also, I find that the people who ditch their debt and are irresponsible are the ones who would be screaming the loudest if someone tried to not pay them. Of course this does not apply to people who are unable to pay their bills because of illness or some other catastrophic reason.

"The Richest people in America conduct themselves with the highest level of integrity! " Oh pleeeeasssse. That is such a load. Enron. MCI Worldcom. The Whitewater banking scandal. Shall I continue?

Answer 3

Most people actually do not choose to do this. What happens is they choose to make yet another purchase on credit. The debt builds until they eventually start to realize that they are having trouble making even the minimum payment. To make matters worse, life's little emergencies tend to always happen at the "wrong time," which can further put someone in debt in a deeper hole.

Most people in this situation fail to seek help from a credit counselor until it is too late. There are a number of strategies that a credit counselor can help them with to get out of debt on their own, without the assistance of a debt management plan. Unfortunately, most people ignore the problem until it is almost too late, which further reduces their options for getting out of debt.

Answer 4

I believe that it is called 'Depression'. Nobody wants to admit that there are in debt. i can only assume it's because they are getting hassled alot for payments and they don't want to have to deal with it. They shutdown completely and bury their heads in the sand hoping that it will just go away but of course it won't. And as each day goes past these people get more and more agitated by the constant threats from their credit providers. Some people shouldn't be given credit because they don't know how to handle it when they over spend and find themselves in a position where they can't repay it. Overall I don't think that people think it is OK to not pay, as I believe that there is always a reason behind not being ABLE to pay.

Answer 5

The Richest people in America conduct themselves with the highest level of integrity! This is show time and time again by any book you'll find on the Richest people in America numbers don't lie and they have interviewed these people many times and they listed that as the #1 reason they have attained that wealth, this is for first time millionaires. All not paying your debts really does is give these companies reasons to raise interest rates to compensate for monies not collected. I wouldn't not deal with people who do not have integrity because you never know when you won't get paid.
Eventually your history will catch up with you and once again people who don't take responsibility for their actions will find someone else to blame. Bottom line honest people go further then people who aren't. Don't believe me google the richest people see how they got their. Just so you know you won't see scarface on the list!

He who loves a pure heart and whose speech is gracious will have
the king for his friend.
Proverbs 22:11, New International Version

Answer 6

I am not "one of those" people but I certainly like to figure the logic in human behavior. I believe many people would like to have A+ credit but after a while one can get "caught up" in the credit card game. It should certainly not be abused but credit card companies love to offer more credit cards even though you are already in sufficient debt. Add to that exorbitant fees that are now being investigated by Congress and its quite simple to see why someone ends up using Credit cards to pay off Credit cards and when its time to make payment some may see going grocery shopping a little more important. Please understand I do not condone this behavior but I am trying to shed some light on the reality of it.
We teach our kids many things in school but we should be teaching credit 101 at an early age along with some other real life coping topics.
Take care.

Answer 7

I think it has alot to do with parental influence and lack of basic economic education in the public schools. Look at the number of families that live well above their means running 10's of thousand of dollars in credit card debt and only making monthly minimums payments. A $5k credit card balance would take years to pay off making only minimum payments. Given the ease of filing bankruptcy, and this nation's reluctance to accept personal responsibility for its collective actions, it's no wonder these people don't feel they have to pay.

Answer 8

There are 2 basic reasons why people accumulate debt on their credit cards:

1. Life is full of surprises.

2. Life isn' fair.

That sums it up!

Answer 9

That is the most stupid thing that I can imagine....I assure you for those that think that this is ok...their lives are in shambles. They are scum of the earth and they themselves cheat people, lie, steal, and prostitute thier family and friends with promises of "I'll pay you back" but never do....just ignorant....I have learned...look at someones life when asked to borrow money even if its $10 and make your own judgement. Most people do pay their bills but for those that dont they usually live in poverty and or with parents and their lives suck. You are a PURE example of how you pay your bills, live your life and take responsibilities...you teach your own children by the way you live your life.

Answer 10

They are just ignorant......