How would you react.

[Spirit of Light]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

 

[JustGeorge]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

Well, I assume if this was for me, they'd be offering to flip the food bill for the kids and spouse, too, so...

I'd count my blessings and say thank you. I'd try to learn as much from the situation as I could. And I'd learn to enjoy the natural world and objects I already have instead of seeking out new experiences that involve spending money(because I wouldn't be in charge of it anymore).

 

[England my lionheart]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

I think that’s debt management,we have the same in the UK but instead you could wipe off your debts by basically going bankrupt,in the UK that means you will not get any credit or HP for 6 years,not sure how I would feel to be honest,get some advice first imo.

 

[Spirit of Light]

I think that’s debt management,we have the same in the UK but instead you could wipe off your debts by basically going bankrupt,in the UK that means you will not get any credit or HP for 6 years,not sure how I would feel to be honest,get some advice first imo.

As far as i know, in Norway if one goes bankrupt it will be a 5 years suspention time where the governmental office still manages your financial economy, i could be wrong on this by the way.

 

[Twilight Hue]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

Mom! Dad! I'm home! Where is my allowance!

Personally, there would be the appreciation of a safety net of course. However I'd try my best to get independent again by focusing and moving forward to a goal of a sustainable retirement.

 

[The Sum of Awe]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

Hmm. If I was really struggling then I would go for it as long as I am in charge of my personal income again once my financial issues are resolved.

 

[Twilight Hue]

I think that’s debt management,we have the same in the UK but instead you could wipe off your debts by basically going bankrupt,in the UK that means you will not get any credit or HP for 6 years,not sure how I would feel to be honest,get some advice first imo.

I had that option once and our lawyer insisted that it was the only way to get out of my crushing debt. I was thankful I didn't listen to his push for bankruptcy and sought out credit consolidation through a debt management firm.
.
My credit was damaged , but not destroyed like bankruptcy would have done.

In fact I received letter from one of my creditors thanking me for choosing an alternative to bankruptcy and even re-established a line of credit later on to help rebuild my credit along with a forgiveness of interest owed and allowed me to pay back the principal.

Today I'm a lot more careful about my spending.

 

[Exaltist Ethan]

What would your reaction be?

This scenario is actually similar to a lot of disabled people who are incapable of keeping their finances straight. My previous apartment was filled with drug addicts and the severely mentally ill and they required case workers to handle their finances. Most of these people would blow through their money after the first week on drugs or gambling and needed things to be tighter in order to survive.

I am not in that scenario. My mom was my payee but after I moved into my current apartment I became my own payee. And i handle my money quite well in fact. I had my student loans forgiven and the debt I had to PayPal Credit was paid off thanks to the COVID checks I got.

To answer your question, I would not be happy if I could not control my own money. I didn't even like my mom being my payee because I prefer to have a debit card linked to my account rather than her giving me a few hundred dollars every month to enjoy. Since I've taken advantage of being my payee I've cut corners every way I can. I mean, almost everything I enjoy is subsidized in some way.

And in fact, if I had a payee, whether that would be government case workers or my mom, they don't know how to subsidize living as well as me. My rent is subsidized, my Internet is subsidized, hell, even my Amazon Prime is subsidized. I am doing just fine by myself holding to my own finances and I don't need anyone else controlling my money. And I would severely upset and pissed off if they tried.

 

[Jayhawker Soule]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

You are asking us to assume that your description of the situation is accurate and balanced, and that the phone call is legitimate. Given those assumptions, I would likely (and begrudgingly) thank them for their clearly needed assistance.

 

[Spirit of Light]

You are asking us to assume that your description of the situation is accurate and balanced, and that the phone call is legitimate. Given those assumptions, I would likely (and begrudgingly) thank them for their the clearly needed assistance.

The case is a real case yes.

 

[ChristineM]

What would your reaction be?

If there were no other choice ...

Additional method of income, extra work hours, part time job etc, debt management, family loan.

Then I'd take the offer on the assumption that once everything is cleared i would get back control of my own finances.

 

[England my lionheart]

I had that option once and our lawyer insisted that it was the only way to get out of my crushing debt. I was thankful I didn't listen to his push for bankruptcy and sought out credit consolidation through a debt management firm.
.
My credit was damaged , but not destroyed like bankruptcy would have done.

In fact I received letter from one of my creditors thanking me for choosing an alternative to bankruptcy and even re-established a line of credit later on to help rebuild my credit along with a forgiveness of interest owed and allowed me to pay back the principal.

Today I'm a lot more careful about my spending.

Good for you,I’m glad it turned out well.

 

[Twilight Hue]

Good for you,I’m glad it turned out well.

It's why I support credit counseling before taking that drastic bankruptcy route.

 

[The Hammer]

In fact I received letter from one of my creditors thanking me for choosing an alternative to bankruptcy and even re-established a line of credit later on to help rebuild my credit along with a forgiveness of interest owed and allowed me to pay back the principal.

Of course they did. They wanted and got their money from you plus interest.

 

[Twilight Hue]

Of course they did. They wanted and got their money from you plus interest.

I always thought the invention of accruing interest alone was the biggest economic scam ever placed on people in history.

 

[England my lionheart]

It's why I support credit counseling before taking that drastic bankruptcy route.

Counseling is a good idea and debt counselling is free.

 

[Twilight Hue]

Counseling is a good idea and debt counselling is free.

It's not free where I'm at , but they incorporated their fee in my monthly payments. It was still a good deal nonetheless.

 

[It Aint Necessarily So]

how would you react if you got into a financial problem unable to pay your bills, mostly only being able to buy food for yourself each month, getting into debt deeper and deeper. Then you get a phone call from a governmental office, requesting to help you but on one condition. They will get in charge of your own personal income and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one. What would your reaction be?

There seems to be something missing here. Who's paying the other bills - rent/mortgage, utilities, etc. - if only a stipend for food is allowed? Where does the money come from - public funds, your paycheck, or both? Did you request the government's help or was it offered unsolicited? Do you have any say over when the relationship returns to normal?

If one is going under for lack of budgeting and financial planning, then he should welcome the help and learn from it.

 

[Jayhawker Soule]

The case is a real case yes.

I'm not sure that your response adequately addresses the questions inherent in my post.

 

[Spirit of Light]

There seems to be something missing here. Who's paying the other bills - rent/mortgage, utilities, etc. - if only a stipend for food is allowed? Where does the money come from - public funds, your paycheck, or both? Did you request the government's help or was it offered unsolicited? Do you have any say over when the relationship returns to normal?

If one is going under for lack of budgeting and financial planning, then he should welcome the help and learn from it.

The people in the governmental Office will take charge and do all the pasient of future bills and correcting the payments that has been missing, and what created the bad situation in the first place.