Why is it my richer clients drive old bangers?

vikingaero

sammy115 wrote: »

First off. Kerry Katona HAS just been made bankrupt.. I blame her advisors. I don't think anything can be gained by slagging her or her lifestyle off. Until you have walked in her shoes you cannot judge.

I disagree with you here Sammy. KK's accountant, agent and advisors must have been tearing their hair out at her. It's all very well doing the accounts for someone and telling them they need to pay HMRC next month. Then next week you find that they've splashed £150k on a Lambo. As an advisor you don't hold the purse strings to KK's accounts. You have to ask them for money to pay people and if the money isn't forthcoming then there is little as a professional that you can make people do.

My uncle is in a similar situation to KK. He's a brilliant businessman but a lousy bookeeper. So he's always in arrears with the taxman. No matter how many calls the accountant makes to him there is a limit to what they can do.

I'm surprised with KK going under for £82k. Unless the motors were on finance she could have shoved them into auction last week and be holding cash now. This BR is going to cost her northwards of £25k if it gets discharged quickly.

rubydoiwannabee

Conrad wrote: »

I think the message is that you dont have to try and find money to keep up with these apparant have it all's. It can give a certain contentment not to feel envious of people, when you factor in thier is a high probability they might be funding everything on debt and by not paying down thier mortgage and not saving.

So often we see someone in a black Range Rover Sport and wonder how lucky they are to own such a vehicle - are they lucky, or are they just living a lie?

Here's a contrast;

One client of mine is 30, owns 2 houses mortgage free. She worked for a printer on £14 pa. I say 'worked' because she is currently taking time out, living off the rent and working part time as and when.

Client 2 pulls up in a mega motor (over £150k I think). He owns his own building firm, has a Brightling watch, the blond size zero babe and so on.
Anyway, he wanted a 100% (at a push 95%) mortgage as he has no spare money.
He also laughed that he is close to bankcruptcy. Honestly, this is real and would rather put mortgage in GF name only.

What a contrast between these 2 clients. People would never think client 1 had any money at all, yet she has about £450k in property, whilst client 2 has about £10k in all ther world if you take away the debt from the assets.

Mmmmm remind me never to come your way with my business, if you are going to share your clients financial status on a forum like this.

SO MUCH FOR CONFIDENTIALITY!!!!

I'm sure said clients would be able to identify themselves from ALL the information you have given.

southernbelle

rubydoiwannabee wrote: »

I'm sure said clients would be able to identify themselves from ALL the information you have given.

Oh come on. Just the same as a charity/service/whatever saying "Customer A blah blah blah"
As long as we can't ID them then it's confidential.

I don't want to get involved, but it really seems as though some people are just picking holes in Conrad's posts because they disagree with his(?) views. It just seems a bit childish to me

Edited to add: And another thing before I get blasted for daring to disagree with you all. Just because someone does not hold the same view as you, that does not make them a troll. It makes you narrow minded.

rubydoiwannabee

I'm sorry but to state age, place or work, e.g. printer, % of mortgage application, no of properties owned etc. Is a more information than someone in the role of a mortgage advisor should be sharing on a public forum.

I haven't commented on anything to do with the rest of the thread, just this point.

DoWhatULove-LoveWhatUDo

I can't decide what I find most distressing about this thread.
Is it that Conrad thinks we too judge others by the same narrow criteria that he seems to use, of cars watches and blondes?
Or that he thinks we poor ignorant debtors need educating in exactly how to judge a person's net worth, or even that we would want to.
Or is it that this bundle of blinkered bias is in part responsible for the future financial happiness of all these "clients" that he speaks about with such audacity and disrespect?
And yes, I am picking holes in Conrad's posts because I disagree with his views. It's called a discussion. It's what he said he was trying to generate.

southernbelle

DoWhatULove-LoveWhatUDo wrote: »

I can't decide what I find most distressing about this thread.
Is it that Conrad thinks we too judge others by the same narrow criteria that he seems to use, of cars watches and blondes?
Or that he thinks we poor ignorant debtors need educating in exactly how to judge a person's net worth, or even that we would want to.
Or is it that this bundle of blinkered bias is in part responsible for the future financial happiness of all these "clients" that he speaks about with such audacity and disrespect?
And yes, I am picking holes in Conrad's posts because I disagree with his views. It's called a discussion. It's what he said he was trying to generate.

Thanks, I'm aware of what constitutes a discussion.
However, picking posts apart does not contribute anything to the discussion, it just detracts from the points being discussed.

I think that Conrad's point was not to judge by narrow standards - in fact his example showed that to do so would be ridiculous, as we never know what is going on in people's bank accounts, we only see what they choose to show us on the outside.

Jacks_xxx

Well I'm embarrassed to say that this thread made me feel so disturbed that it actually woke me up!

First of all the Lightbulb finally went on above my head on the troll issue.

The kind of person who would come specifically to a board for people struggling with debt problems - which also contains several prominent threads about weight problems too - and post that money problems are people's own fault and weight problems are people's own fault has got to be some kind of troll surely?

That's not helpful to moneysavers is it? People are struggling for their LIVES on here. :mad:

I don't mean to be rude Conrad, but what was your motivation for posting that kind of comment *here*?

And then I realised that this is why the Finance Industry is so fraught with problems: There are too many people in it who think money is the only thing that matters.

This board may be about money, but it's also about people and Conrad clearly has no expertise in that area.

I don't just dislike your opinions Conrad, I distrust your motives in posting here so I'm off to report your posts.

Love Jacks xxx

PS I mean no disrespect to anybody else who works in the financial sector - I do too.

ixwood

Conrad, while I agree with the basic point, why are you obsessed about this? Why do you always carp on about status symbols not mattering etc if they don't matter?

Seems to that you've always trying to convince yourself that these things don't matter and you're not really inadequate/inferior. It seems to really console you that you can say to yourself "he's only got the flashy shiny things I covet, but is really poor. (He must be! Right? He'd better be! I'm not a failure really)".

My happiness/self worth isn't reliant on others being poorer than me.

Get over it.

And, don't you rub your hands in glee when you get a subprime mortgage candidate in? I remember you getting excited about the £2k fee you were going to get off some poor unsuspecting victim.

carrottopsuk

I remember my French teacher talking about a posh school that she used to work in many years before. One of the parents used to drive around in a battered old mini and the rest of he parents used to look down on her until they found out that she was the local 'Lady' .

The message is the same but I don't recall my French teacher being labelled as a troll lol. If I were Conrad I would be upset at the accusation.

I suppose this thread is there to generate debate and get us to look at the way we have spent money in the past or possibly the way we are still spending. Some of find ourselves in debt because of trying to keep up with the Jones'.

Personally I find this a very interesting thread and it is useful to hear different perspectives.

hypno06

Jacks_xxx wrote: »

And then I realised that this is why the Finance Industry is so fraught with problems: On the whole I think that the kind of people who choose to work in that sector are probably more interested in money than people.

Jacks, I am sorry that you are so obviously upset by this thread, and I am really sorry that you have lost sleep over it, and you know I have never had any gripe with anything you have posted on here.

But your statement above is just as generalising.........there are a lot of us DFWs on here who work in the finance industry, and what you say above will be just as upsetting to those people as you find the other comments in the thread upsetting to you.

I am a stockbroker, Pania a mortgage adviser and Snaggles a mortgage underwriter.......just to highlight a few of the DFW regulars who battle with their finances just as much as those not working in the industry.

By generalising in your statement in this way, you are doing exactly the same as you feel Conrad is doing, and whilst I understand what you are saying, two wrongs don't make a right.