Fictional characters, celebrities and reality TV stars are all helping to encourage people to borrow irresponsibly in order to buy items they cannot really afford, according to the majority of respondents to a recent poll.
New research conducted on behalf of debt advice and solutions provider Debt Advisory Centre has found that the relatively modern phenomenon of reality television may be fuelling some people’s debt issues. More than two-thirds (70%) of those questioned said they think that reality TV shows encourage consumers to use credit irresponsibly.
Overall, 80% of respondents believe portrayals of debt on in the media may be responsible for encouraging consumers to act irresponsibly when it comes to borrowing.
A chief reason for this is reports of celebrities who have successfully filed for bankruptcy. 74% claim that such news serves to trivialise the consequences of bankruptcy, which include a long-term after-effect on the credit score and the client’s ability to borrow, as well as their name appearing on the Individual Insolvency Register and any property or assets they own being sold off.
Fictional portrayals of people in debt were regarded as just as harmful as reality TV by many respondents. More than two-thirds (69%) believed that characters with problem debt on TV helped to trivialise the realities of living in debt, by behaving in an unrealistic manner.
When asked whether they felt that fictional characters use credit responsibly, three-quarters (73%) of respondents said they did not. Only 42% thought that fictional portrayals of debt were, in general, accurate.
OnePoll questioned a nationally representative sample of 2,000 adults aged 18 and over between 12th August and 23rd August 2014, of whom 630 were Scottish.
Ian Williams, spokesman for Debt Advisory Centre, said: “The survey shows that one in five (21%) respondents consider themselves to have problem debt. That so many think that what they’re reading and watching could be encouraging irresponsible lending is worrying.
“People in debt can find it a very isolating experience and as a result are often hesitant about seeking help and support. Unrealistic portrayals of fictional characters in similar positions may only make them shy away from seeking help for longer.
“Just as damaging are the reports of high-profile people filing for bankruptcy that appear to trivialise the consequences of this decision. The public needs to have access to realistic perceptions of debt and a clear and fair understanding of the consequences of its solutions.”
