Saturday, February 2, 2013

Are you a compulsive debtor?

Seems no one wants to even "go there."  That could be a problem. Living as if there is not a problem will only lead to personal and financial destruction. Believe me, I've been there!

In my first marriage, my husband loved to spend money - much of it, we hadn't earned yet. He was also hooked on sweepstakes - he would buy things just so he could be entered. It doesn't sound harmful but he was a compulsive spender and ran up a $70,000 debt.  It effected our marriage and the lives of our children.

During the divorce, he filed for bankruptcy. I was so ashamed because of what I had been taught growing up - that bankruptcy meant you were a total loser.  I also heard I would never be able to buy a house or a car again.  I guess I was pretty lucky, because within a year, I had a good paying job and was able to buy a car.  The only debt I had, was paying off my divorce attorney.  The Ex - well he went on to file bankruptcy again. He just thinks he can run up a credit tab and not pay for it. He even spent a couple of years homeless -

 I've been very careful. Our credit is good and it's on the way up!

That is why I am so crazed about living a more simple life - without all the "stuff".  If that stuff makes you go out and make purchases on credit - YOU MAY HAVE A PROBLEM.
Especially in this economy. 

The following are 15 questions to ask yourself from Debtors Anonymous.

Most compulsive debtors will answer "yes" to at least eight of the following 15 questions.

1. Are your debts making your home life unhappy?
2. Does the pressure of your debts distract you from your daily work?
3. Are your debts affecting your reputation?
4. Do your debts cause you to think less of yourself?
5. Have you ever given false information in order to obtain credit?
6. Have you ever made unrealistic promises to your creditors?
7. Does the pressure of your debts make you careless of the welfare of your family?
8. Do you ever fear that your employer, family or friends will learn the extent of your total indebtedness?
9. When faced with a difficult financial situation, does the prospect of borrowing give you an inordinate feeling of relief?
10. Does the pressure of your debts cause you to have difficulty  sleeping?
11. Has the pressure of your debts ever caused you to consider getting drunk?
12. Have you ever borrowed money without giving adequate consideration to the rate of interest you are required to pay?
13. Do you usually expect a negative response when you are subject to a credit investigation?
14. Have you ever developed a strict regimen for paying off your debts, only to break it under pressure?
15. Do you justify your debts by telling yourself that you are superior to the "other" people, and when you get your "break" you'll be out of debt overnight?
How did you score? If you answered yes to eight or more of these questions, the chances are that you have a problem with compulsive debt, or are well on your way to having one. If this is the case, today can be a turning point in your life.
We have all arrived at this crossroad. One road, a soft road, lures you on to further despair, illness, ruin, and in some cases, mental institutions, prison, or suicide. The other road, a more challenging road, leads to self-respect, solvency, healing, and personal fulfillment. We urge you to take the first difficult step onto the more solid road now. 


  1. We put everything on a credit card so we can accumulate airline miles. Then we never go anywhere.

    But we pay the balance monthly. The husband is the fiscally responsible one. I'm a convert.

  2. That actually is a good idea and I think we are going to do this. My mom and dad used to do that - put everything on a card and then reap a cash back of a couple of hundred dollars at the end of the year. But not everyone has the willpower to then, pay the bill off. So it can be dangerous in the wrong hand.

    That's funny about the airline miles you never use.