Explore how optimism can make debt resolution more difficult—and why people delay
Now to counteract the fact that we focus on the negative quite heavily in our environment, we also have a precursor to think we'll be in a better position in the future.
So if we take that back to collections, the individuals who find themselves in a situation where they can't pay their bills will often think, well, in two weeks, 30 days, I'll have a new job or I'll have sorted out this difficulty that I'm in.
So I'm going to be OK. And while that's great for us as individuals that we are optimistic and look towards the future, when we think about that in the setting of collections, that can make it very difficult because these people will over calculate what position they'll be in at a later time.
They also may sometimes actually do what's called the ostrich effect, which is I'm going to stick my head in the sand, I'm not going to deal with it because I think I'll be in a better place in a couple weeks and then I'll deal with it. And so these are all the things that kind of get in the way of people taking a very self actualized role in resolving their debt.