After having defined the concepts of debt, over indebtedness and spiral of overindebtedness, I examine exogene social, economic and political factors making indebted States and individuals. In the economy of debt they are subordinated to financial institutions (and individuals). In addition, being interested in exogene family factors, I study family system, socialization process within family, interaction among family members and consequently the building of their financial literacy. I emphasise that these processes going on in individuals and families impact their searching or better non-searching of ways to overcome financial crises. Moreover, I examine personal factors like illusions and errors built on psychological orders and counter orders as well as immature style of defence, which can cause someone not to detect or not want to detect the situation, where spiral of overindebtedness is getting built.
Additionally, both contracting debts and choosing the ways to overcome financial crises are heavily impacted by individual mental and physical health causing the emergence of debts and leading to searching for ways to overcome them. Moreover, causes of their emergence can be sought in transitional life events when one’s psychic structure gets loose, so one is rather inclined to take unreasonable, destructive decisions with long lasting consequences for oneself in one’s family. Further, I describe counselling, counselling phases and the Prelomi Institute together with its program “Multidimensional psycho-social help” which helps people in financial difficulties.
In my empirical part of research I used five case studies for analysing life stories, reasons and consequence of finding solutions. As a result of my research I have found out, that regardless of the life situation in which an individual finds himself, the resolution of the financial problems is primarily dependent on the traits of the personality of the over-indebted person.
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