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Could You Admit Your Debt Load on National TV?

Money is a personal matter, or is it? On Oprah's "Money Day" show this week, one audience member, who had previously written to the show, was asked to stand up and share exactly how much credit card debt she has.

Suze Orman was encouraging the audience and viewers to get honest about how much debt they have, and this woman (an accountant) said that she honestly has $80,000 in just credit card debt. Would you be able to stand up and tell the world exactly how much you owe?


Join The Conversation
MzKita MzKita 8 years
Its under $10,000 and thats including what's left on the car I shame, its all a learning experience.
Shadowdamage Shadowdamage 8 years
You bet. Its zero.
Dhorwich Dhorwich 8 years
If I had debt I might hesitate but I'm proud to have gotten out of debt completely in 2008 so of course I'd willingly share that. It lets others know they can do it too.
bluebellknoll bluebellknoll 8 years
Yes, I would. But only because I'm proud to say that I'm finally credit card debt free. And I'm working hard to get my mortgage paid off within 5 years.
ktownpolarbear ktownpolarbear 8 years
nope. i can barely admit the debt to myself.
Squeaks26 Squeaks26 8 years
I don't mind telling people about my debt because I don't really have any. I purchased a new Honda Accord this year but that's it. It will be paid off in less than two years. I live in my friends house so I have no mortgage. I have several different investments and forms of savings. Suzie would be so proud.
fitgirlFL fitgirlFL 8 years
Yes, especially if I was getting helpful advice by doing so. I have zero deb tnow - paid off everything. Now I am working to build up my savings and keep myself from getting in over my head again.
tlight tlight 8 years
I think that if that is the route I took to get help with my money woes.. then yes, I would admit it on TV. But I do agree with Suze, and other money gurus, that we, especially women, need to talk more about finances and debt. I think one of the greatest resources women have are thier networks and the communal pool of experience. Money is still one of those topics people get embarassed about. But if your closet spending is what got you into this mess, letting someone else in on it can only help you, right? It's like anything else.. having someone on your side makes it easier to deal with.
OHmeetsBK OHmeetsBK 8 years
I don't think I would announce it on national television - but I wouldn't mind talking about it with family or close friends. My husband and I definitely racked up some credit card debt our first year of marriage but as of right now, we have a firm grip on it (knock on wood!). Thankfully we can manage to pay over the minimum amount due each month and we are slowly chipping away. Credit cards are evil!
shannonsimpson shannonsimpson 8 years
I agree with lovekailua. I often wish I never went to grad school.
lovekailua lovekailua 8 years
no, my student loan debt is so much i cant even say it out loud without feeling sick
karisaamy karisaamy 8 years
I would share, but then again I don't have any credit card debit, just our home and one car.
supercoolnat supercoolnat 8 years
Yep, totally will talk open about finances. Of course, my only debt is really my husbands student loans, I paid mine off a while ago.
graduatedsqueaks graduatedsqueaks 8 years
I already talk about my debt on my personal finance blog. I'm not ashamed of my debt because I have a plan, and it's mostly student loan debt (and a car loan). In fact, I'll talk openly about personal finance with anyone who will listen!
Meike Meike 8 years
I wouldn't go on national tv for anything but sure, zero debt plus savings is something I can be proud of.
wackdoodle wackdoodle 8 years
It's not a matter of being able to or not being able to - it's more why the hell would I want to go on TV and let everyone watching know my business. Seriously, it's no one else's business or concern but mine. I don't even watch these shows where other people go on shows and declare their debt load. I wonder what the hell their motives are because if they wanted to resolve their debt they'd pay it and seek a personal financial adviser not some hack on TV. It's like those weirdos who go on Judge Judy or other Judge on TV shows and tell ALL of their business and faux pas to the audience. Do I really need to know this moron has ten children with 11 different people?
GlowingMoon GlowingMoon 8 years
Personally, I wouldn't because I consider personal economy a private matter. I would only disclose my personal economy to our accountant. But here on the internet (with a certain level of anonymity), I will disclose that our only debt is our mortgage. :) I plan on getting that paid off early, waaaay early (like our student loans).
erinflower erinflower 8 years
No, not really because I'm ashamed, but I'm really shy. It's more than I would like it to be though.
refinedharmony refinedharmony 8 years
Yep, I actually submitted a letter to Suze Orman to be on the webcast next week. I don't have any debt (yet) but I always have this issue of freaking out about whether or not I will make it each month. I somehow always pull it off, but it would be nice to not feel so anxious all the time!
ladydanaj ladydanaj 8 years
It would be hard to admit but I think I would.
jennjennnbubba jennjennnbubba 8 years
sure, I would, especially if I was going to get some help with that debt!
brielleblonde brielleblonde 8 years
i have zero debt and proud! I can't believe someone could be 80k in debt. that's just disgusting. She needs to sell all of her crap that got her into debt, stop getting her hair did, nails did, massages, etc. I really don't know what she bought in the first place to get that much in debt!
Spectra Spectra 8 years
I would do only debt is my mortgage and our student loans, both of which have really good, low interest rates. No credit card debt, no car payments, nothing like that.
ilanac13 ilanac13 8 years
i'd have to say no to that one. i feel like that's my information to know, and there are folks out there who really just have no sense of how i live my life and i kind of like it that way.
Le-Luxe Le-Luxe 8 years
No way. My debt is like my 'skeleton in the closet'. Especially my credit card debt, which is the grand scheme of things isn't even really that much, but I feel like it is always over my head.
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