subject: Media's Role In Consumer Debt [print this page] Media's Role In Consumer Debt Media's Role In Consumer Debt
Any Wisconsin bankruptcy attorney can tell you that the economic recession has seriously impacted American society. With such a reliance on credit, it is no surprise to a Wisconsin bankruptcy attorney just how conditioned the culture is to a buy now, pay later philosophy. Unfortunately this buy now, pay later philosophy ends up being the primary reason why a Wisconsin bankruptcy attorney may be contacted about a personal bankruptcy filing. For many years, the media has consistently communicated to its audience that it is okay to buy things that you cannot afford. Not only purchasing things that you cannot afford for the moment, but buying things that you will not be able to afford even with your next pay day. Furthermore, it could take you years to pay off with compounded interest. Still, many members of society, perhaps even the majority of the population are mesmerized by the ability to leave a store with items without the physical exchange of money. The swipe of a small rectangular piece of plastic can seem so far removed from the reality of the true monetary situation that it is extremely difficult, if not virtually impossible, for one to make the connection between buying something and actually paying for it.
Consumers are targeted at a very young age to participate in the credit card game. As soon as they are legally permitted to enterinto a binding contractual agreement, they become the center of mass marketing schemes. They are expected to heed the warnings which are disguised in extremely small print on the back,or at the very bottom, of a credit card offer. Once someone falls into the deep end of credit card debt, it becomes very difficult to find their way out. Those who do not find their way out end up knocking at bankruptcy's door because of a society that essentially set them up for failure.
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