Does debt shaming help debt relief or prevent it?

“Shaming”....... What comes to your mind when you hear this word? It’s negative, dark, and tallies well with molestation!

For some people, it is a wonderful way to get entertained by making fun of others and abusing them every way possible!

Make sure you are not one of them. Make sure you don’t enjoy hurting others. If you do so, then you only deserve my sympathy!

Shaming is never a good method to use to make a person realize his faults!

Here I will be talking about a very important and distinct matter, it is “Debt Shaming”.

For some, it might be a new word, while for many they are a victim of it.

But the question is “Can debt shaming actually turn out to be helpful”?

Or can it only bring harm and prevent the victim from getting debt relief?

These questions surrounding “debt shaming” are very complex. Because the situation is no more financial rather psychological!!

What actually happens when you start shaming a person?

The victim starts to feel insecure, scared, worthless, and mentally unstable.

Now debt itself is a very sensitive word. When a person falls into debts, he is already under huge pressure and is vulnerable to social stigma. So, should we trouble that person more by shaming him for his debt situation?

When can shaming be helpful?

In various talk therapy sessions, “shaming” has been used by many talented and professional psychologists and psychiatrists, as an important tool to cure patients suffering from critical psychological issues!

Examples might include treatments for patients residing in prisons and asylums for the criminally insane. One such important case history could be of Charles Manson’s.

Again, during counseling sessions involving serious drug addicts and patients with violent anger management issues “shaming” has proved to be useful.

So, if we apply the same theory to a person’s debt situation then “Shaming” might not be bad! But this procedure should only be used by ethical and trained medical practitioners.

No random man should go ahead and start shaming a person, just to enjoy the victim’s situation or life.

A new branch of study, ‘Financial Therapy’, has evolved:

Debts, especially consumer debts, like credit cards or payday loans are habits and behavior-related problems rather than normal financial or inflation-related issues.

Hence, to understand these conditions where finance is ruled by psychology, financial therapy has come into action.

You must know that money is not only a material good, but it is also somewhere influenced by the way we think, how we react to situations in our life, and our lifestyle!!

But discussing every minute detail of financial therapy is not possible in such a concise approach like this post.

So, if you think that you are a victim of debts and financial bindings, then you can consult a financial therapist and discuss your issues in detail. In the meantime, if you practice debt shaming on someone unknowingly or just for fun, then stop doing so! Instead, help that person to find a good financial therapist and be a sensible and supportive human being!

When can debt shaming prevent debt relief?

As I have thoroughly explained earlier, debt shaming can turn out to be a very disturbing and mentally stressful situation for a debt victim.

First thing is, the person has tremendous monetary problems to deal with and must be already seeking out options for debt help!

Now, in such a situation, if you bring that person down by frequent shaming, then the victim will surely go through a nervous breakdown!

So, if the person is already in a phase of self-realization, he/she knows and understands the mistakes for which they have incurred such huge debts, then debt shaming will be of no help!

Also, debt shaming cannot be utilized for every debt situation.

One such instance could be mortgage debt, where the value of a property has depreciated over the years.

In such a case, you can’t blame the debtor even though the debt amount carried by him/her is huge!

So, understand the scenario, see how the debts are incurred, what debts are incurred, and then decide whether or not debt shaming can be of any help!

If misused, debt shaming can ruin the debtor’s life, morale, and motivation to seek a debt relief option.

An overview of debts, that debt shaming can’t help with:

Mortgage debt
Student loan debt
Losses in investments
Medical debts
Other debts involving a collateral (May or may not be car loans)

When can debt shaming help with debt relief?

If the debtor has a big amount of debt related to credit cards, payday loans, auto loan debt, and so on, that looks like a major lifestyle fault, then shaming can actually be helpful.

But as I have said earlier, it is only a job of a professional therapist to use shaming as a tool for debt relief.

On the other hand, it is completely okay for parents and close friends to help a debtor realize his/her faults with a little bit of ethical shaming!

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Hence, if you think that you are overcrowded with debts and being frequently shamed from your loved ones, then don’t be late to approach a therapist.

It’s your job to let yourself out of these messy situations!

Again if you know someone, dear to you, who’s getting carried away by reckless behavior, then you can try debt shaming yourself, but with proper care and intelligent tactics!

Remember, only a true atheist can transform into a true theist! So, one, who is the worst reckless spender today, might just become the most sensible spender tomorrow!