Lynch Law Offices, P.C.
Call Us Now for a FREE Consultation:
800-491-7493
Offices in Four Convenient Locations

All I want for Christmas is this, that and that, and charge it!

There is a fine line between loving to shop and being addicted to shopping. There is a fine line between being an impulse buyer and being a compulsive buyer. And there is a fine line between manageable debt and nagging debt.

No, "nagging" is not a technical term found in the Bankruptcy Code, but we all understand what nagging debt is, and we have all experienced that feeling at one time or another. For many of us, it has come after the holidays, when we realize that we owe more than we can comfortably pay off.

Just one or two experiences with overspending along Chicago's Magnificent Mile at Christmastime aren't necessarily the sign of compulsive shopping disorder. According to the American Journal on Addictions, only 7 percent of Americans suffer from the disorder -- a small percentage, until you realize it translates into 20 million people.

People with the disorder cannot stop themselves from shopping. Unfortunately, technology has made it easier than ever to shop 24/7. It is now possible to order online at the same moment you order from QVC or another shopping network. There is hardly a minute in the day that does not present an opportunity to buy.

According to one woman suffering from the disorder, there is a real sense of euphoria that goes with shopping. Buying is wonderful, but it is quickly followed by remorse. Just as compulsive gamblers are just one turn of the wheel away from the big jackpot, compulsive shoppers are just one purchase away from filling an inexplicable void in their lives.

This woman says she returns merchandise all the time. She also says that she has received packages that she completely forgot she had ordered. What she seldom forgets, it seems, is how many thousands of dollars she owes. Even without the credit card statement in front of her, she knows that her shopping is putting her family in financial hot water.

For many, the easiest way to dispel the stress of being in debt is, unfortunately, shopping. And the cycle continues.

We don't want to encourage people to self-diagnose any kind of psychological disorder, but experts suggest everyone take a debt quiz to gauge his or her attitudes toward overspending and unwieldy credit card debt. We'll go through the questions in our next post.

Source: CNBC, "Debt addiction: Red is not the new black. Shopaholics beware," DaVida Plummer, July 7, 2014

No Comments

Leave a comment
Comment Information

How Can we Help You? Contact An Attorney

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Four Convenient Office Locations To Serve You

Toll Free: 800-491-7493 Fax: 630-960-4755

Five Convenient Office Locations To Serve You

Lisle Office - DuPage County
1011 Warrenville Road
Suite 150
Lisle, IL 60532

Map & Directions

Lockport Office - Will County
900 South State Street
Second Floor, Suite A
Lockport, IL 60441

Map & Directions

Aurora Office - Kane County
1444 North Farnsworth
Suite 100
Aurora, IL 60505

Map & Directions

Palatine Office - Cook County
800 East Northwest Highway
Suite 700
Palatine, IL 60074

Map & Directions

Chicago Office - Cook County
1 S Dearborn
Suite 2100
Chicago, IL 60603

Map & Directions

Toll Free: 800-491-7493 Fax: 630-960-4755