why don't some people take responsibility and pay off their debt?

Question

I did! OK, it took me a year but I paid off every penny of it. Some people think that moving to another country is the solution. It's not! I think if people got help then they could become debt free!

Answer 1

Some people live on credit , when they can not afford it , running up debt , instead of comming to terms with there problems and sorting the matters out , they avoid paying for what they have spent .

The only answer is to get a world wide argeement on debt recovery , so as to stop people running away from there responsiblitys.

Another is to make people pay the full amout of there debt , no discount for not being able to pay , for they should think before they take out credit

Answer 2

I am debt free , I have two years left on my mortgage , all four cars are paid for , and I have zero credit card debt,

Most people think the more you borrow the better credit you have , which is stupid , most people think you have to have a high credit score to get a house , They are not taught that anything that goes by a score is a suckers number . they are not taught that if you can not pay cash , you do not need it ..most kids today , think when they start out they have to have the brand new expensive house , not realizing the majority of what they are paying is profit for builder ,and agent , they are not taught that the brand new car they have to have is the worst investments anyone can make after all you lose more than the down payment when you drive it off the lot , the minute you drive it off the lot it becomes a used car ,and you owe more than it is worth from day one ... I blame the parents , these kids watch the spending habits of dumb (mommy) ,and dumber (Daddy) ..or they are the kind who does not say "NO" to their kids , these kids grow up thinking their parents gave them everything , so the world owes them everything without having to work for it or pay for it ..they think they are so special that everyone else owes them something for living...I have no pitty on the dumb ,and ignorant...most think they have to live like they do on TV , no one ever taught them TV is not real life....just stupity at it's finest...

Answer 3

i'm sorry to assert, yet he's acceptable and here is why : Having debt is a real shrink back to purchase a house plenty extra then the upside of having mark downs (have confidence me, i'm interior the flexibility of procuring for a house). without costs, banks would be extra prepared to offer you a brilliant own loan through fact interior the top, they substract the quantity of debt you have of the deepest loan or some thing like that - vast shrink back. additionally, till your funds is genuinely placed, you fairly make a penny on a a hundred$ sitting in a monetary corporation according to month - whilst with debt, the pastime fee as you pronounced can substitute into truly severe. it truly isn't any longer real which you are going to have debt all your life and in my journey, you would be plenty extra chuffed understanding you may stay a debt unfastened life - some thing banks or the different loaner will never inform you. Debt are a responsability, specific in specific circumstances that's necessary however the time you may spend without having any is a blessing.

Answer 4

In todays society we taught it's OK to go into debt. Advertising is the number one reason, and it starts at a very young age. The number of minutes per week a child watches t.v. 1680 (28 hours) and the number of minutes that parents spend in meaningful conversation with their children per week 3.5. that tells us our kids are learning from the media, and all they do is advertise; buy, buy, buy no money down, no payments for a year! zero % interest. It's also the credit card companies when they give you that 0% intro offer, and after that jacks it up to 10% + and then even higher if you miss a payment. So it is not all the persons fault for getting into debt but they make the decision to do so, and there are millions doing it.

Answer 5

Children are no longer taught about taking personal responsibility for their actions ... even after finishing school / university many children have still not learnt how to look after themselves or their finances.

Even having a Student Loan fails to teach a lot of kids anything - most such loans are very low interest (or even interest free == i.e. Bank of mummy & daddy) ... so they are still unable to experience or understand how paying Credit Card Interest will rob them of their future.

To finance the life style of the RICH, they will borrow on Credit, thereby taking the first steps to remaining POOR the rest of their lives.

After maximing out the Credit cards, the first response is NOT to cut down & pay it back, but to get ANOTHER loan to pay off the first ..

Some kids manage to grow up during the process of getting loan after loan after loan and wake up to what's happening .. at each stage the Interest cost and time to pay off gets worse ... and soon it becomes obvious that they will never finish paying it back

But many never learn how Interest is robbing them of them of their future. These kids will never be RICH = they have chosen to be POOR through ignorance.

Eventually the burden of Debt overwhelms them ... some wise up at the very last moment and end up in an IVA .. others fail to learn in time and are made bankrupt ..

Answer 6

Well, because is so many debts that once you pay one, the other comes and kicks you in the a*s. But I do believe debts can be paid off, but with take lots of work and you probably couldn't have kids because children defintely punches a hole in the piggy bank!

Answer 7

personally I think the nanny state is to blame. no one is responsible for their own actions anymore, the government tells us what we can and cannot do, and if we do something wrong then we are to be cosseted, not blamed.

I did it the hard way, my business went under and took me with it, a 3 year bankruptcy where I was literally watching every penny and living of £25 a week. now you can be out of a bankruptcy in 1 year - where is the deterrent

Answer 8

I AGREE. i want to be debt free, but i simply dont have enough money to live on if i pay everything i owe monthly etc.

Answer 9

Because it's more fun to spend than to repay a debt or save up. When you spend, you get the immediate adrenaline rush and satisfaction of handling, playing, looking at your purchase. When you repay or save, all you have is a piece of paper or savings book to look at. Boring vs thrills. Which one will win?

Answer 10

Everyone wold pay off their debts if they could afford to do so. No one likes bad credit.