‘Family money’ and ‘business money’: bankrupt entrepreneurs in a ‘question situation’

Sellerberg, Ann Mari

doi:10.1080/13668800802432400

Cited by 5 publications

(7 citation statements)

References 17 publications

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“…2.1 It is not only those who are already poor who are struck by overindebtedness; we also find highly educated and previously well off individuals amongst the ranks of overindebted (e.g. Dellgran 2000; Gumy 2007; Sellerberg 2010; Tufte 2004). Becoming overindebted is for many not only a dramatic economic change, but a situation with consequences for their social identity and status (Poppe 2008).…”

Section: Background: Overindebtedness and Debt Relief In Swedenmentioning

confidence: 72%

Accounting for Personal Overindebtedness: Debtors’ Accounts in Applications for Debt Relief at the Swedish Enforcement Authority

Larsson

Jacobsson

2012

Sociological Research Online

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This paper aims to describe and understand the accounts given in applications for debt relief/adjustment in relation to the ‘question situation’ that overindebted person stand before in their encounters with Swedish authorities. The analysis is based on the sociology of accounts and is made against the background of previous research on overindebtedness in the Nordic countries. The paper shows that the accounts given by debtors include examples of ‘refusals’ and ‘denials’, but mainly comprise narratives and accounts centred around giving ‘justifications’ and ‘excuses’ focusing on external circumstances (illness, unemployment, divorce, bankruptcy), helplessness, or a lack of knowledge or intent (others causing the debt, or problems of addiction). The applications also contain some ‘concessions’, ‘pledges’ and ‘appeals’ by which the debtors try to show that they are improving in taking economic responsibility and deserve debt relief. The analysis thereby shows which accounts are considered legitimate, but also that the framing cues defining and delimiting the question situation are too weak to produce uniform forms of accounting. Many applicants for debt relief respond to a wide definition of the question situation - one that relates to self-image and social identity.

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Section: Background: Overindebtedness and Debt Relief In Swedenmentioning

confidence: 72%

Accounting for Personal Overindebtedness: Debtors’ Accounts in Applications for Debt Relief at the Swedish Enforcement Authority

Larsson

Jacobsson

2012

Sociological Research Online

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“…By earmarking the prize money for loans and savings – and using ‘other’ money for consumption – the interviewees took advantage of the ‘invisibility’ of electronic money and could, thereby, still claim that money spent for consumption was earned through gainful employment. Sellerberg () demonstrates how Simmel's and Zelizer's dissimilar notions on money should, in instances like this, be perceived rather as complementary concepts. It is, in her argument, precisely the double nature of money, as both socially distinguished and as a neutral means; that makes the distinction between different money challenging.…”

Section: Discussionmentioning

confidence: 99%

“…By directing attention to the symbolic boundaries for a certain kind of money, we can, however, make other people aware of the fact that we ourselves have kept within the set limits. The boundary thus constitutes an instrument for impression management, or a discursive resource, which we can employ by stressing our own responsibility and respect for its existence (Sellerberg ).…”

Section: Earmarking Of Moneymentioning

confidence: 99%

“…Moreover, by referring to such acceptable versus non‐acceptable uses, the interviewees avoided repudiation from people whose support they required, presented themselves as responsible consumers and, at the same time, as respecting the set limits for this kind of money (c.f. Hedenus ; Becker ; Carruthers and Espeland ; Sellerberg ).…”

Section: ‘Taming’ Lottery Prize Money Through Earmarkingmentioning

confidence: 99%

“…Taking advantage of both the anonymous character of money, as well as the social categories defining it, the winners were thus enabled to let money ‘slip’ between categories, so that both ‘clean’ and ‘dirty’ money were used for ‘clean’ ends (cf. Sellerberg ).…”

Section: ‘Taming’ Lottery Prize Money Through Earmarkingmentioning

confidence: 99%

See 2 more Smart Citations

Pennies from heaven? Conceptions and earmarking of lottery prize money^,

Hedenus

2014

British Journal of Sociology

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The source of money has been shown to be important for how money is spent. In addition, sudden wealth is often associated with social and psychological risks. This article investigates if conceptions of lottery prize money--as a special kind of money--imply restrictions on how it can be spent. Analysis of interviews with lottery winners shows that interviewees use earmarking of the prize money as a strategy for avoiding the pitfalls associated with a lottery win. Conceptions of lottery prize money as 'a lot' or as 'a little', as shared or personal, and as an opportunity or a risk, influences the ends for which it is earmarked: for self-serving spending, a 'normal' living standard, paying off loans, saving for designated purposes, or for economic security and independence. Clearly defining and earmarking lottery prize money thus helps lottery winners construe their sudden wealth, not as a risk, but as 'pennies from heaven.'

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The German consumer bankruptcy law and moral hazard – the case of indebted immigrants

2019

JFRC

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Purpose The purpose of this paper is to investigate to what extent the increased insolvency filings by migrants since the enactment of the consumer insolvency law in 1999 is associated with moral hazard. It describes the profile of migrant debtors and highlights the areas of moral hazard. This study aims to propose changes to the consumer bankruptcy system. Design/methodology/approach Empirical evidence for this work consists of primary data from 435 individuals mainly with immigration background, who were declared bankrupt by district courts (Amtsgericht). Both qualitative and quantitative research types were used. Interviews helped to attain an in-depth understanding of the way in which any misconduct may take place. Quantitative data were gathered to understand the debt profile of migrant debtors, types of liabilities and creditors’ reactions to write-off requests. Findings The paper provides empirical insights about the way misconduct is pursued and suggests that neither party, i.e. the debtors through debt counsellors and creditors/factoring companies or their representatives, is entirely free of unethical practice. Hence, the paper stresses the need to establish public agencies, which provide joint mediation services for private debtors and their creditors alike. Research limitations/implications Data collected for the purpose of this study may not be comprehensive because given the sensitivity of the area of study that is misconduct – including breaking the law – not all machinations may have been revealed and described in this work. Therefore, further research needs to be conducted in this field. Practical implications The paper has implications for policymakers. Consumer bankruptcy system is relatively new and needs to be amended to allow debtors and creditors to negotiate write-offs not by sending countless letters through their respective representatives, which is also carried out over a long period of time, but to try to come to terms in one agency, which is responsible for both sides. Social implications The findings in this paper may provide some valuable insights, which could also give impulses to debates on problems that may come with immigration. Originality/value To the best of the author’s knowledge, no research exists that analyzes the topic at hand with such extensive data and using both methods of research at the same time.

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‘Family money’ and ‘business money’: bankrupt entrepreneurs in a ‘question situation’

Cited by 5 publications

References 17 publications

Accounting for Personal Overindebtedness: Debtors’ Accounts in Applications for Debt Relief at the Swedish Enforcement Authority

Accounting for Personal Overindebtedness: Debtors’ Accounts in Applications for Debt Relief at the Swedish Enforcement Authority

Pennies from heaven? Conceptions and earmarking of lottery prize money^,

The German consumer bankruptcy law and moral hazard – the case of indebted immigrants

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‘Family money’ and ‘business money’: bankrupt entrepreneurs in a ‘question situation’

Cited by 5 publications

References 17 publications

Accounting for Personal Overindebtedness: Debtors’ Accounts in Applications for Debt Relief at the Swedish Enforcement Authority

Accounting for Personal Overindebtedness: Debtors’ Accounts in Applications for Debt Relief at the Swedish Enforcement Authority

Pennies from heaven? Conceptions and earmarking of lottery prize money,

The German consumer bankruptcy law and moral hazard – the case of indebted immigrants

Contact Info

Product

Resources

About

Pennies from heaven? Conceptions and earmarking of lottery prize money^,