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Handing back the keys and going bankrupt. Is it really the best option?

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Comments

  • Premier_2
    Premier_2 Posts: 15,141 Forumite
    10,000 Posts Combo Breaker
    fimonkey wrote: »
    ...BUT I presume you mean my friends should buy a canoe, and of course not have enough left over from that purchase to buy the accompanying paddle?...
    No, the paddle is needed too! ;)

    1.jpg
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • wipeyourdebt
    wipeyourdebt Posts: 2 Newbie
    Your friends may be able to wipe the debts on the unsecured loan and the credit card if thats any help to you. This action is under the consumer credit act 1974
  • GDB2222
    GDB2222 Posts: 27,028 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    wipeyourdebt wrote: »
    Your friends may be able to wipe the debts on the unsecured loan and the credit card if thats any help to you. This action is under the consumer credit act 1974

    Oh, how? Sounds too good to be true!
    No reliance should be placed on the above! Absolutely none, do you hear?
  • fimonkey
    fimonkey Posts: 1,238 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    GDB2222 wrote: »
    Oh, how? Sounds too good to be true!

    Yes, it probably is! ... The issue was sorted, my friends parents have bought the property from them for their other son to live in, so bailed them out effectively.
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