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DEBTOR PSYCHOLOGY

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Debt Relief

Good Lord,it’s actually a medical illness.

Compulsive buying disorder (CBD), or oniomania (from Greek ὤνιος ṓnios “for sale” and μανία manía “insanity”[1]), is characterized by an obsession with shopping and buying behavior that causes adverse consequences. According to Kellett and Bolton (2009, p. 83), compulsive buying “is experienced as an irresistible–uncontrollable urge, resulting in excessive, expensive and time-consuming retail activity [that is] typically prompted by negative affectivity” and results in “gross social, personal and/or financial difficulties”.[2] Most people with CBD meet the criteria for an axis II disorder. Compulsive shopping may be considered an impulse control disorder, an obsessive-compulsive disorder, a bipolar disorder,[3] or even a clinical addiction, depending on the clinical source.

Shopping as a mood lifter may be an adaptive behavior if no compulsion is involved; it has jokingly been called retail therapy. But like opioid use, it can be either a therapy or an addiction, depending on whether it is adaptive or maladaptive.

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One Woman’s Debt Psychology

This woman’s outlook is interesting. Being in debt could be an actual comfortable cocoon.

She has a lot of insight.

Being in Debt is Comfortable.  Like with any bad habits, often times they have been practiced for so many years that people are afraid of not being able to handle a different life.  This is often why (and I speak from personal experience here) women (and men) who are in abusive relationships stay there.  The relationship might be horribly bad for them, but at least they know what to expect.  There’s a level of trust that comes with long-term experiences, whether those experiences be good or bad, that’s hard to let go of.  Staying with the old is often much easier, from a psychological standpoint, than working toward something new.  Regarding debt and paying it off, often times money struggles are subconsciously viewed as an old friend.  You’ve had your ups and downs with money for 10,20, 30 or more years, and those struggles have kind of become like an old, broken in pair of shoes that you just can’t part with.

Are You Afraid to Be Debt Free?

 

Credit Card Debt Psychology

And of course, it doesn’t seem like “real” money when you spend according to experimental research. It also shows that people are willing to pay more for a product if they are using a credit card than if they pay cash.  That’s called the “credit card premium.”  It is less psychologically painful to swipe a credit card than to physically hand over cash.

That is sad, but amusing in a horrific kind of way.

The winning strategy might be living on a cash-only basis.

If you are being sued for debt, need debt relief, debt settlement, phone Axsmith Law LLC (202) 285-5415.

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